2 Bedroom, 1 Bath surrounded by redevelopment. Rent ready now with a brand new furnace, newer windows, nice kitchen and fenced in yard. This property needs very little work, start collecting rent now.
REPAIRS: repair cost estimate = $4k. New carpet and floors, replace appliances, minor bathroom updates, fresh paint, seal basement, minor siding and soffit repair.
RETURN ON INVESTMENT: The median rent for a 2 bed, 1 bath is $600 per month. With an upfront investment of $25,900 (principal, repairs, closing costs), rent at $600 per month and a vacancy rate of 13% you will see income around $6,300. After expenses (taxes, insurance, maintenance, and property management) costing $2,000 you should see a Net Operating Income around $4,300. Calculate the Cash-on-Cash return for year one around 21% (This doesn't include any tax deductions or tax benefits).
This property is prime for cash flow, don't let these investments sit any longer, the longer you wait the less you make. Call Now!
Repair Estimates are our best guess on rental quality repairs; this is not a retail flip repair estimate. Please seek professional advice.
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