House is in excellent condition. Just needs to be trashed out, no repairs, 1998 build. Maybe could use some paint. Cap Rate as rental: 19.3%Net Operating Income: $11,600Gross Income: $13,200 Gross Income ($13,200) = Market Rent ($1,100) x 12 monthsNet Operating Income ($11,600) = Gross Income ($13,200) - Insurance ($1,000) - Property Taxes ($600)Cap Rate (19.3%) = Net Operating Income ($11,600) / Purchase Price ($59,000) + Trash Out and Clean up ($1,000)
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