Great rental!! Vinyl sided, Replacement windows, roof-tear off approximately 9 years ago. State of the art boiler, 97% efficient, 4 years old. 80 gallon hot water tank 4 years ago. Fenced yard, kitchen appliances both units, electric box updated. Owner pays heat, water and sewer. Whole house wired with security system. Great cash flow. Sold for 70k in 1999.Income(Yearly)=$13,800.00Unit 1-1st Floor=$550.00Unit 2-2nd Floor=$600.00Property Taxes=$2,400.00Insurance=$1200.00.Water=$ 2,400.00 Gas= $ 1,884 10 %Vacancies=$1,380.00Property Mgnt=$1,380.00Net (Yearly)=$5,040.00The rent for the upstairs unit is $120/mo. below market per rentometer.com and that's potential income of $1,440 year.Individually gas metering the units would increase the property's income by $1,880/yr. Increasing the rent and gas metering the units can increase annual income from $5,040 to $8,060 (40% increase)! That an extra $3,324 year!!!!
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