Each unit renting for $800 plus utilities of gas, water and electric. 2 bedroom 1 bath. One unit vacating this month. Rent is going to $825. Kitchens have all been remodeled with new cabinets and granite counter tops. Newer appliances include: Stove, refrigerator, over the stove microwave, dishwasher and a stack washer and dryer. Building was resided end of last year. Structural engineer inspected and adjustments made. Rear deck was rebuild in May. Water heaters have been replaced and 3 air-conditioners are new and a sump pump has been added to the crawl space. Off street parking for one car, on street for additional cars. Large back yard with a deck off the back doors of the units. Using the following expenses, a 9.25% cap rate prices this property out at $333,621. Taxes: $1,512.00 Insurance: $1,488.00 5% vacancy rate: $1,920 5% Maintenance Fee: $1,920 Lawn Care: $700.00
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