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!
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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%