Rental Package

321 Slack Street, Steubenville, OH

16.85% return

SP: $599,900

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Property Description

AMAZING CASHFLOW!!!!

16 units, consists of 3 duplexes, 1 triplex, 1 quadplex and 3 houses. Lots of updates done recently!!! Waterheaters, furnaces, 6 completely remodeled units, roofing. Package is cashflowing nicely. Professionally managed. Only an hour from Pittsburg, PA. 16.85%+ NET RETURN ON INVESTMENT!!!! OVER $200k IN VALUE ADD!!!

Property Information

Listing statusActive
Property typeMulti Family (7 properties)
Total units16
Total bedrooms37
Total bathrooms16.5
Building size(unknown)
Lot size0.4 acres
Year built1920 - 1940

CountyJefferson County
Subdivision
ConstructionFrame, Brick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingGas Furnace
CoolingWindow A/C

Property Financial Summary

Sale price$599,900
Estimated rehab¹$50,000
Total investment$649,900

TypeProforma
After repair value$849,900
Potential profit$200,000

Gross income (annually)$128,100
Operating expenses (annually)$18,569
Net income (annually)$109,531
Gross return19.71%

Gross income (monthly)$10,675
Operating expenses (monthly)$1,547
Net income (monthly)$9,128
Net return16.85%

Property Income & ExpensesMonthlyAnnual

Income

253-255 South 5th Street, Duplex
Unit 1: 3 bed / 1 bath$600/month$7,200/year
Unit 2: 3 bed / 1 bath$600/month$7,200/year
253-255 South 5th Street, Quadplex
Unit 3: 2 bed / 1 bath$600/month$7,200/year
Unit 4: 2 bed / 1 bath$600/month$7,200/year
Unit 5: 2 bed / 1 bath$600/month$7,200/year
Unit 6: 2 bed / 1 bath$600/month$7,200/year
321 Slack Street, Duplex
Unit 321: 3 bed / 1 bath$650/month$7,800/year
Unit 323: 3 bed / 1 bath$700/month$8,400/year
327 Slack Street
3 bed / 1 bath$700/month$8,400/year
329 Slack Street
3 bed / 1 bath$700/month$8,400/year
3426 Orchard Street, Duplex
Unit 1: 2 bed / 1 bath$650/month$7,800/year
Unit 2: 2 bed / 1 bath$500/month$6,000/year
376 Summit Avenue
2 bed / 1.5 bath$600/month$7,200/year
710-712 Dock Street, Triplex
Unit 710: 2 bed / 1 bath$750/month$9,000/year
Unit 712f: 1 bed / 1 bath$875/month$10,500/year
Unit 712r: 2 bed / 1 bath$950/month$11,400/year
Total$10,675/month$128,100/year

Expenses

Property Taxes$218/month$2,619/year
Insurance (estimated)$375/month$4,500/year
Water, Sewer and Waste$320/month$3,840/year
Maintenance reserve$454/month$5,450/year
Lawn care$180/month$2,160/year
Total$1,547/month$18,569/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.