275 Bayferry Road, Earle, AR

16.04% return

SP: $275,000

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Property Description

AWESOME PACKAGE!

Total of 3 houses and an 8 unit complex. Units are spacios. NEW ROOF. Apartments are freshly painted, have central heat & air, separate water, electric and gas meters. Tenants pay all utilities. Houses need TLC. Property needs better management. Near Memphis & Fed Ex Distribution Center. Only $25k per unit!! Will generate a 16% NET RETURN ON INVESTMENT!!

Do not miss out on this opportunity!!!

Property Information

Listing statusSold
Property typeMulti Family (4 properties)
Total units11
Total bedrooms19
Total bathrooms11
Building size5196 sq. ft.
Lot size1.3 acres
Year built1922 - 1980

CountyCrittenden County
SubdivisionPATTERSON
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral, Window Unit
CoolingCentral air, Window A/C

Property Financial Summary

Sale price$275,000
Estimated rehab¹$30,000
Total investment$305,000

TypeProforma
After repair value$385,000
Potential profit$80,000

Gross income (annually)$60,000
Operating expenses (annually)$11,084
Net income (annually)$48,916
Gross return19.67%

Gross income (monthly)$5,000
Operating expenses (monthly)$924
Net income (monthly)$4,076
Net return16.04%

Property Income & ExpensesMonthlyAnnual

Income

239 Bayferry Road
3 bed / 1 bath$750/month$9,000/year
275 Bayferry Road, 8 units
Unit 1: 2 bed / 1 bath$500/month$6,000/year
Unit 2: 2 bed / 1 bath$500/month$6,000/year
Unit 3: 2 bed / 1 bath$500/month$6,000/year
Unit 4: 2 bed / 1 bath$500/month$6,000/year
Unit 5: 1 bed / 1 bath$400/month$4,800/year
Unit 6: 1 bed / 1 bath$400/month$4,800/year
Unit 7: 1 bed / 1 bath$400/month$4,800/year
Unit 8: 1 bed / 1 bath$400/month$4,800/year
283 Bayferry Road
2 bed / 1 bath$325/month$3,900/year
301 Bayferry Road
2 bed / 1 bath$325/month$3,900/year
Total$5,000/month$60,000/year

Expenses

Property Taxes$232/month$2,784/year
Insurance$325/month$3,900/year
Maintenance reserve$167/month$2,000/year
Lawn care$200/month$2,400/year
Total$924/month$11,084/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.