Hometown Inn
424 Highway 65B, Clinton, AR
25.11% return
LP:
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Property Description

Cute starter motel/apartment complex! Property features 16 rooms and a managers area, right in the heart of town. Great potential to rent out weekly. Building will generate a 25% net return at $150/week with 70% average occupancy. Very low expenses. Lower crime area. Clinton, AR is the southern entrance to the Ozark mountains. Only 1 hour north of Little Rock, AR.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units16
  • Total bedrooms0
  • Total bathrooms16
  • Building size6010 sq. ft.
  • Lot size(unknown)
  • Year built1950
  • CountyVan Buren County
  • SubdivisionCLINTON ORIG
  • ConstructionCBS
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C Units

Property Financial Summary

  • Asking price $251,000
  • Estimated rehab 1 $0
  • Total investment $251,000
  • Type Proforma
  • Gross income (annually) $115,200
  • Operating expenses (annually) $52,165
  • Net income (annually) $63,035
  • Gross return 45.90%
  • Gross income (monthly) $9,600
  • Operating expenses (monthly) $4,347
  • Net income (monthly) $5,253
  • Net return 25.11%

Property Income & Expenses

  • Income
  • Unit 1: studio / 1 bath $600/month $7,200/year
  • Unit 10: studio / 1 bath $600/month $7,200/year
  • Unit 11: studio / 1 bath $600/month $7,200/year
  • Unit 12: studio / 1 bath $600/month $7,200/year
  • Unit 13: studio / 1 bath $600/month $7,200/year
  • Unit 14: studio / 1 bath $600/month $7,200/year
  • Unit 15: studio / 1 bath $600/month $7,200/year
  • Unit 16: studio / 1 bath $600/month $7,200/year
  • Unit 2: studio / 1 bath $600/month $7,200/year
  • Unit 3: studio / 1 bath $600/month $7,200/year
  • Unit 4: studio / 1 bath $600/month $7,200/year
  • Unit 5: studio / 1 bath $600/month $7,200/year
  • Unit 6: studio / 1 bath $600/month $7,200/year
  • Unit 7: studio / 1 bath $600/month $7,200/year
  • Unit 8: studio / 1 bath $600/month $7,200/year
  • Unit 9: studio / 1 bath $600/month $7,200/year
  • Total $9,600/month $115,200/year
  • Expenses
  • Property Taxes $183/month $2,194/year
  • Waste Collection $44/month $526/year
  • Phone $97/month $1,167/year
  • Gas Utility Bill $89/month $1,073/year
  • Water bill $159/month $1,908/year
  • Electric bill $405/month $4,860/year
  • Cable Bill $272/month $3,264/year
  • Insurance $1,078/month $12,933/year
  • Advertising $100/month $1,200/year
  • Vacancy $1,920/month $23,040/year
  • Total $4,347/month $52,165/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 the 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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