163 Pierce Street, Kinston, AL
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12.39% return
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Property Description

Great turnkey property!

6 building on 3 acres. 1 Triplex, 2 Duplexes & 3 Single Family Homes. Only 1 unit is vacant. Potential to increase rents. Good condition, no deferred maintenace. Across the street from a school. Nice area. Property management is available. High returns on investment. 

Property Information

  • Listing statusPending
  • Property typeMulti Family
  • Total units10
  • Total bedrooms20
  • Total bathrooms10.5
  • Building size8411 sq. ft.
  • Lot size3.0 acres
  • Year built1965
  • CountyCoffee County
  • Subdivision
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity
  • Water disposalSeptic
  • HeatingELECTRIC, ENG F AIR
  • CoolingWindow A/C

Property Financial Summary

  • Asking price $275,000
  • Estimated rehab 1 $0
  • Total investment $275,000
  • Type Proforma
  • Gross income (annually) $50,400
  • Operating expenses (annually) $16,335
  • Net income (annually) $34,065
  • Gross return 18.33%
  • Gross income (monthly) $4,200
  • Operating expenses (monthly) $1,361
  • Net income (monthly) $2,839
  • Net return 12.39%

Property Income & Expenses

  • Income
  • Duplex #1
  • Unit 715: 2 bed / 1 bath $450/month $5,400/year
  • Unit 717: 2 bed / 1 bath $375/month $4,500/year
  • Duplex #2
  • Unit 729: 2 bed / 1 bath $350/month $4,200/year
  • Unit 731: 2 bed / 1 bath $475/month $5,700/year
  • House #1
  • Unit 721: 3 bed / 1 bath $450/month $5,400/year
  • House #2
  • Unit 739: 3 bed / 1 bath $450/month $5,400/year
  • House #3
  • Unit 747: 3 bed / 1.5 bath $550/month $6,600/year
  • Triplex
  • Unit 163: 1 bed / 1 bath $400/month $4,800/year
  • Unit 165: 1 bed / 1 bath $350/month $4,200/year
  • Unit 167: 1 bed / 1 bath $350/month $4,200/year
  • Total $4,200/month $50,400/year
  • Expenses
  • Lawn care $200/month $2,400/year
  • Property Management $420/month $5,040/year
  • Property Taxes $116/month $1,395/year
  • Insurance $208/month $2,500/year
  • Maintenance reserve $417/month $5,000/year
  • Total $1,361/month $16,335/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.

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