429 2nd Street, Earle, AR
11.53% return
SP:
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Property Description

Single Family Porfolio! 

Package of 10 single family homes. Tenants pay all utilities. Houses need some TLC. Near Memphis & Fed Ex Distribution Center. Super low expenses!! Only $33.9k per door!! Will generate a 12.02% NET RETURN ON INVESTMENT!! 

Property management and financing available.

Property Information

  • Listing statusActive
  • Property typeSingle Family (10 properties)
  • Total bedrooms24
  • Total bathrooms13
  • Building size11558 sq. ft.
  • Lot size2.2 acres
  • Year built1936 - 1972
  • CountyCrittenden County
  • Subdivision
  • ConstructionFrame
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWindow Unit, Central, Central Heat, Wall Furnace
  • CoolingWindow A/C, Central air

Property Financial Summary

  • Sale price $339,000
  • Estimated rehab 1 $5,000
  • Total investment $344,000
  • Type Proforma
  • Gross income (annually) $51,600
  • Operating expenses (annually) $11,929
  • Net income (annually) $39,671
  • Gross return 15.00%
  • Gross income (monthly) $4,300
  • Operating expenses (monthly) $994
  • Net income (monthly) $3,306
  • Net return 11.53%

Property Income & Expenses

  • Income
  • 1020 4th Street
  • 3 bed / 2 bath $500/month $6,000/year
  • 1109 3rd Street
  • 3 bed / 1 bath $450/month $5,400/year
  • 1321 5th Street
  • 3 bed / 2 bath $500/month $6,000/year
  • 1404 5th Street
  • 2 bed / 1 bath $400/month $4,800/year
  • 1421 4th Street
  • 2 bed / 1 bath $400/month $4,800/year
  • 1425 4th Street
  • 2 bed / 1 bath $400/month $4,800/year
  • 210 Alabama Avenue
  • 3 bed / 2 bath $500/month $6,000/year
  • 426 Cross Street
  • 1 bed / 1 bath $300/month $3,600/year
  • 429 2nd Street
  • 2 bed / 1 bath $400/month $4,800/year
  • 429 3rd Street
  • 3 bed / 1 bath $450/month $5,400/year
  • Total $4,300/month $51,600/year
  • Expenses
  • Property Taxes $231/month $2,769/year
  • Property Management $430/month $5,160/year
  • Maintenance reserve $167/month $2,000/year
  • Insurance (estimated) $167/month $2,000/year
  • Total $994/month $11,929/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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