A solid all-brick ranch sitting on half acre lot in a great neighborhood. This is a 3/1.5 with 1507 sq. ft. plus a sun room extension at the back. It has a tenant paying a discounted rent ($500) on a month to month basis. The tenant will be served a notice and the home will be vacated and ready for next tenant on August 1st. Market rent in the area is $1000 (rentometer). The property is ready to rent to the next tenant after basic cleanup. However, the roof is soon coming up for replacement and is accounted for in the repair expense. Flooring (carpet) is at the discretion of investor but is accounted for in the repair budget. Here's the ROI:Price: $46,000Repair: $8,000 (New Roof, Flooring, Cleanup)Total Investment: $54,000Rent: $1000 * 12 = $12,000Taxes: $423Insurance: $500Property Mgmt: $1,200 (10% of rent)Net Income: $9877CAP: 9877/54,000 = 18.3%
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
