Purchase Price: $34,500
Effective Price per unit: $ 8,725
This 4 unit apartment in Anderson will be a cash-producer. 3 of the 4 units are rehabbed. 1 unit still needs to be finished. (estimated cost $3000). All units are 1 bedroom (expect 1 unit also includes a den/extra bdrm). This property was rehabbed several years ago, but not finished. A tree fell on the powerlines, killing electric to the house. Reconnect electric (estimated cost $5000). There are also repairs needed to both front porches ($2000). Brick detached garage can either be torn down or reroofed. 4-5 off street parking spots. Estimates based on a contractor/handy man expense and will cost less if you do the sweat equity. Selling due to family illness. A little TLC will turn this rental into a cash producer.
Purchase Price $34,500
Rehab Estimate $10,000
Total Investment $44,500 After Repair Value: $65,000
Gross Op Income: $18,960
Estimated Expense: $ 6,696
Net Operating Income: $12,264
Monthly Cash Flow: $ 972
Cash on Cash/Cap Rate 27.5%
Cell: six30 eight35 6349
* The rental units are not currently occupied. Income based on previous rent. Tax and Insurance expense is actual. Other expenses are estimates based on history.
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