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Description

Four family in good condition vinyl siding, replacement windows, newer furnaces and electric water heaters. The two car garage is currently rented for $100 a month. The potential rental income is $27,540 which includes the garage rental. Expenses for the property are $9,845 giving the property a NOI of $16,318 figuring a vacancy rate of 5%. The cash on cash return is 19.9% based on 20% down with a 25 year amortization schedule at 6.5%. The before tax IRR at a projected sale price cap rate of 11 could be 25.9%. Building price details: $149,000.

Property Details

• Type: Multifamily
• Status: Available
• Year Built: 1900
• Buildings: 1

Exterior Features

• Parking: Yes
• Parking Spaces: 6
• Parking Type: Surface

Map Locations