This property is massive at 3,900 Sq Ft. It is currently zoned to be a 3 unit property. It has separate utilities and entrances for each of the units. Each of the units are in various stages of completion. The 3/1 on the second floor is 90% complete, the studio apartment on the second floor is %70 complete, while the first floor is framed in and roughed in electrically. The first floor all comes with a pallet of drywall. For those who may consider converting the property into a single family home, that is an option. However, the challenge is to find a true comparable. Every other house around is under 1,500 Sq Ft. and only one has been truly renovated, but it’s currently listed for $370,000. So no matter what your end strategy is, this property is going to be incredibly profitable for whomever puts the time into her. Below is the unbiased video of the current condition of the property. (You may need to copy and paste into your browser.) https://www.youtube.com/watch?v=Mo4s04WaG7M What the House Has: • 3 Units o Studio (1 Bed/1 Bath) o First Floor (4 Bed/3 Bath) ? Massive Size o Second Floor (3 Bed/1 Bath) ? With Balcony • Separate Utilizes (Gas, Electric, and Water!) • Internal Garage (Not Factored in as a Revenue Source) • Quaker Valley School District • Strong Foundation • Block from Bus Stop Revenue Breakdown (All Estimates are the Median Returns from Rent-o-Meter) First Floor (Framed as 4 Bed 3 Bath) Estimate $1,300 a Month - $15,600 a Year Second Floor (3 Bed 1 Bath) Estimate $1,195 a Month - $14,340 a Year Studio (1 Bed 1 Bath) Estimate $570 a Month - $6,840 a Year Total Estimate $3,065 a Month - $36,780 a Year County Property Taxes $591.25 Borough Property Taxes $1,250.00 Quaker Valley Property Taxes $2,448.30 Annual Taxes $4,289.55 10% Maintiance $3,678.00 Insurance $1,500.00 Expenses Total $9,467.55 Ongoing Annual Profit $27,312.45 Repairs $75,000.00 Purchase $75,000.00 Cost Basis $150,000.00 Equity Created $220,000.00 (based upon flip less than half the size) CAP RATE 18.21%
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