Description

This is a package sale on 2 side-x-side duplexes. All units are 2 bed, 1 bath and are in the same/similar condition to the one shown in the pics. All units are currently rented by adults without children. 2 units are rented at $450 1 unit is rented at $500 1 unit is about to be rented at $500 Your gross income will be approximately $1900/mo, BUT, these are not market rents.  The MEDIAN rent is $638! <<CLICK FOR RENTOMETER REPORT These duplexes are meticulously maintained inside and out and were setup the right way.... Individually metered electric and gas Separate furnace and water heater to each unit The basement has room for each tenant to hookup a washer and dryer Backyard is shared between both duplexes to increase available recreation space Tuckpointing completed over last 2 years Roof 4-5 years old Water heaters and furnaces all serviceable age Mix of vinyl and original windows that are in great condition This is a honey of a deal that won't last.  Due to the nature of these being rented out and the current landlord being totally on-top of his game, I will only be able to do one showing to the most serious buyers. For some reason, I can't change the NET income figures in the listing, so here is the math.  Net income figures assume the following.
  • Market rent of $638/unit
  • Property management at 10% of gross
  • 5% repairs (annually)
  • 5% vacancy (annually)
  • Trash at $20/mo
  • Water at $80/mo
  • Sewer at $80/mo
  • Insurance at $85/mo
  • Taxes at $62/mo
Gross Income = $30,624 Expenses = $10,048.80 Net Operating Income = $20,575.2 NOI % = 15.83%


Property Details

Property Status Expired
Price $130,000
Estimated Repairs $0
Square Footage 2228
Sq Footage Source tax_records
# of Units 4
Market Rent (Annually) $30,624
Gross Rent $22,800
% leased 100%
Gross Yield 17.5%
Net Income (Annual) $22800
Net Yield 17.5%
Property Management In Place no
Seller Financing Available no
Sellers Disclosure I have equitable interest and am assigning my rights to purchase this property
Publish Date August 20th, 2018

Seller Information

matt1

Member since July 2018
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