- Updated On:
- December 23, 2020
- 6 Bedrooms
- 3 Bathrooms
- 2,800.00 ft2
- Year Built: 2009
Location: call for address
Asking: $230,000 ($115,000 per door | per side)
There are 4 duplexes left in this area that is in desperate need of rentals!!
Units were built in 2009.
Tenants are already in all of the units except one (tenant has already been found but not moved in).
Tenants pay for all utilities including water, sewer and trash.
Only thing the owner pays for is landscaping which is $30 per mow in spring and summer.
It is likely that a new Toyota plant will open near to these units which could then help new owner to increase the rent in the near future.
Units are rented out at $950 each.
Recently identical units have all sold for listing price so we don’t believe the seller will take less since the other buildings are under contract at list price.
Here are the units available:
|Building||K||10||vacant; tenant has already been found but not moved in|
|Purchase Assumptions||My Offer|
|Suggsted offer (low)||$230,000|
|Suggsted offer (high)||$230,000|
|Suggsted offer (options)||$230,000|
|Land Value (%)||25%|
|Building Value (%)||75%|
|Market Value (after improvements)||$230,000|
|Other Fees At Closing||$0|
|Down Payment (%)||20%|
|Down Payment Amount||$46,000|
|Mortgage Term (Years)||30|
|Monthly Mortgage Payment||$826|
|Cash Outlay (Total Out of Pocket)||$55,500|
|Property Tax Rate (Approx.)||1.12%|
|Property Management Fee||$143||$1,710|
|Total Fixed Expenses||$661||$7,931|
|Total Expenses (Fixed + Mortgage)||$1,487||$17,846|
|Financial Analysis / Deal Attractiveness|
|Net Cash Flow||$27,806|
|Average Cash Flow/Year||$5,561|
|Average Cash Flow/Month||$463|
|Projected Property Value||$279,830|
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