Cash Cow
*** ********* ***, ********, NC
23.47% return
SP:
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Property Description

HANDY MAN SPECIAL!! 17 unit rooming house. Needs complete rehab. Potential to bring 18-22%+ net returns on investment. 300k population in the CSA. Amazing potential.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units17
  • Total bedrooms17
  • Total bathrooms4
  • Building size4378 sq. ft.
  • Lot size0.0 acres
  • Year built1925
  • County******** County
  • Subdivision********** *********
  • ConstructionFrame
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • Heating(unknown)
  • Cooling(unknown)

Property Financial Summary

  • Sale price $90,000
  • Estimated rehab 1 $100,000
  • Total investment $190,000
  • Type Proforma
  • Gross income (annually) $91,800
  • Operating expenses (annually) $47,201
  • Net income (annually) $44,599
  • Gross return 48.32%
  • Gross income (monthly) $7,650
  • Operating expenses (monthly) $3,933
  • Net income (monthly) $3,717
  • Net return 23.47%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath $450/month $5,400/year
  • Unit 2: 1 bed / 0 bath $450/month $5,400/year
  • Unit 3: 1 bed / 0 bath $450/month $5,400/year
  • Unit 4: 1 bed / 0 bath $450/month $5,400/year
  • Unit 5: 1 bed / 1 bath $450/month $5,400/year
  • Unit 6: 1 bed / 0 bath $450/month $5,400/year
  • Unit 7: 1 bed / 0 bath $450/month $5,400/year
  • Unit 8: 1 bed / 0 bath $450/month $5,400/year
  • Unit 9: 1 bed / 1 bath $450/month $5,400/year
  • Unit 10: 1 bed / 0 bath $450/month $5,400/year
  • Unit 11: 1 bed / 0 bath $450/month $5,400/year
  • Unit 12: 1 bed / 0 bath $450/month $5,400/year
  • Unit 13: 1 bed / 0 bath $450/month $5,400/year
  • Unit 14: 1 bed / 1 bath $450/month $5,400/year
  • Unit 15: 1 bed / 0 bath $450/month $5,400/year
  • Unit 16: 1 bed / 0 bath $450/month $5,400/year
  • Unit 17: 1 bed / 0 bath $450/month $5,400/year
  • Total $7,650/month $91,800/year
  • Expenses
  • Electric bill $1,500/month $18,000/year
  • Water and Sewer $600/month $7,200/year
  • Property Taxes $74/month $889/year
  • Insurance $161/month $1,932/year
  • Property Management $765/month $9,180/year
  • Maintenance reserve $833/month $10,000/year
  • Total $3,933/month $47,201/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.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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