2511 Shirley Ave , Baltimore, MD 21215 Two (1) one bedroom apartments in need of nothing. Contact: Attn: Bill Feeley Visit us at our website for additional homes for sale homerentalsinmaryland.com 2511 Shirley Ave , Baltimore, MD 21215 Possible owner financing Available 2BR/2BA Townhouse two separate units one bedroom each Offered at $89,900.00 Sq Footage 1200 sq ft Bedrooms 2 (Possible 1 more bedroom and 1 full bath in basement) Bathrooms 2 full Floors 3 stories Lot Size 2,060 sq ft with fenced yard Lot Size 20.6 x 100 ft DESCRIPTION This is a great investment. Completely renovated new mechanicals HVAC Central Air Conditioning installed this year. Replacement vinyl windows, largerooms. Oak kitchen cabinets Electrical circuit breakers New roof Metal fire escape with rear deck at each level. Great Tenants one year lease. Collecting $1300 month rent Lead Certs in place property is registered with MDE & Baltimore City all permits are up to date. Nothing to do but collect the rent and get an unbelievable return on your investment Rent: $1,300.00 Taxes: $500.00 Ground Rent: $0 HVAC: Gas forced air w/ central AC Plumbing: All new CPVC from curb in Electrical: Breakers Cost to rehab for Rental $0.00 Just collect the rent Investment Property Income and Expense Analysis 2511 Shirley Ave Baltimore 21215 Purchased Price: $89,900.00---Loan-to-Value: 80%---Loan Amount: $71,920.00---Proposed Finance Amount: $71,920.00 Interest Rate: 8% Amortized Term: 360 Months (30 Years) Monthly Payment: $527.00 Total Investment: $18,980.00 (20% down ($17,980.00) + Closing costs ($1,000.00) Two Apartment Units 1 BR 1 Bath each Lease Expires 5/1/2016 Security Deposit $1300.00 Security Dep. Date 5/1/2015 Total Monthly Rent : $1300.00 ($200 below market) Total Annual Rent : $15,600.00 Real Estate Taxes: $500.00-Insurance: Travelers $365.00 MDE ($15/unit x 2 ) $30.00-Baltimore Housing Registration ($30/unit x 2) $60.00 Water: (Paid by tenant, per lease) $0.00---Gas/Electric: (Paid by tenant, per lease) $0.00 Total Annual Expenses: $925 Repairs/Vacancy Loss Budget: (5% of Gross Rents) $780.00 Net Operating Income: (Yearly Rent $15,600.00 minus Yearly Operating Expence $925.00 = $14,675,00 Net Yearly Income Return on Investment Pay Cash Pay Cash $89,900.00 + $1000.00 Closing Costs Total investment $91,900.00 Yearly Net Income $14,675.00 = 16% annual Net Return Return on Investment if Property is Mortgaged Net Operating Income: $14,675.00 (Yearly Rent $15,600.00 minus Yearly Operating Expense $925.00 = Net Yearly Income $14,675.00 Less Mortgage Payments: $6324.00 ($71,920.00 @ 8% for 360 months) = $527.00X12=$6324 NET Cash Flow (Annual): $8351.00 Total Investment: $18,980.00 (20% down + Closing costs $1000) $18,980 (ROI, Cash-on-cash): 45.0% Net Return (Plus Yearly Appreciation) Capitalization Rate: 18.00% Net Net Net PER MONTH CASHFLOW: $627.00 NET YOUR ENTIRE INVESTMENT BACK IN A LITTLE OVER (2) TWO YEARS Based on the above, you earn an annual rate of return of 45.0% if you financed this property. If you paid cash, your rate of return would be 18.00%. Assuming you purchased this property with financing, your entire investment would be returned in a little over 2 years. If you paid cash you would get your entire investment back in a little over 6 years and have $15,000.00 (plus yearly market increases of 5% per year) of pure income afterwards until you sell. In addition, you are purchasing a fully renovated property at below market value. Comparable sales in the area are: 4213 TOWANDA AVE, BALTIMORE, MD 21215 Sold 05/28/2015 - $99,000.00 3528 REISTERSTOWN RD, BALTIMORE, MD 21215 - Sold 01/28/2012 - $186,000.00 3617 COTTAGE AVE, BALTIMORE, MD 21215- Sold 1/09/2013 - $121,900.00 2600 KEYWORTH AVE, BALTIMORE, MD 21215 Sold 3/1/2014 -$145,000.00 3816 DERBY MANOR DR, BALTIMORE, MD 21215 Sold 1/2/2015 - $118,000.00 Contact info: William Feeley PO Box 6447 Baltimore MD 21230 443-604-2682
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