Flash-property is Zoned R-1. I amd or you can- going to get it surveyed-draw a new set of CCand Rs. And sell it as two half plexs at 395 each. I This is priced at a 5% Capitalization Rate-this means a 5% return on your money-given certain expenses measured the same way for all income property. This way you can compare properties the same way. IT never has anything to do about how you finance-its a fixed measurement against other properties taking your new taxes into consideration. (New Taxes,utilties,insurance are taken into consideration against actual rents-NOT projected). This gives you a net income to compare against other properties----THEN- You take into account things like-This is a Conforming duplex-its burns down-this can be rebuilt-a lot of stuff in Woodland cannot/OR it costs extra on your insurance. this is NOT in a flood area.. (these two items are expense's other better PRICE$D properties may have-but your net income-is actually less. Capish!This had a new 50 year roof,full gutters,insulation,,dual pane windows about 12/15 years ago plus over size *ac units (out of the seven duplexes in this area-only two have AC by the by. Hard wood floors both sides that are not in to bad of condition,one side just had new carpets,paint,redone bathroom. rents for $2,950 a month total (both sides)-this is NOT projected AND (will go up at states new max allowed rent-easy as 1500 is rent for one bedroom apartments in some of your better locations in Woodland-there is a -0- vacancy factor here. 2 bedroom one bath each side-Never a loss of income on a turn. This is a prime location. Room to pass thru water bill.-also have 716 Springdale on market/has lock box-a 3/2 rental with a potential 2,500 a month rent at 399,800,000 in great shape. Buy both-will co op in a 1031 trade. I am a Realtor. age and sq ft is estimated. This is priced fair and firm. IT also pays a commission to a Realtor. Projected rents are 1750 a month ot 1600 a month per side and water bill paid. I have owned this long enought to project that. $35,400 is actual real time collectible rents-NO vacancy
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