275 Bayferry Road, Earle, AR
16.04% return
SP:
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Property Description

AWESOME PACKAGE!

Total of 3 houses and an 8 unit complex. Units are spacios. NEW ROOF. Apartments are freshly painted, have central heat & air, separate water, electric and gas meters. Tenants pay all utilities. Houses need TLC. Property needs better management. Near Memphis & Fed Ex Distribution Center. Only $25k per unit!! Will generate a 16% NET RETURN ON INVESTMENT!!

Do not miss out on this opportunity!!!

Property Information

  • Listing statusActive
  • Property typeMulti Family (4 properties)
  • Total units11
  • Total bedrooms19
  • Total bathrooms11
  • Building size5196 sq. ft.
  • Lot size1.3 acres
  • Year built1922 - 1980
  • CountyCrittenden County
  • SubdivisionPATTERSON
  • ConstructionFrame
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral, Window Unit
  • CoolingCentral air, Window A/C

Property Financial Summary

  • Sale price$275,000
  • Estimated rehab1$30,000
  • Total investment$305,000
  • TypeProforma
  • After repair value$385,000
  • Potential profit$80,000
  • Gross income (annually)$60,000
  • Operating expenses (annually)$11,084
  • Net income (annually)$48,916
  • Gross return19.67%
  • Gross income (monthly)$5,000
  • Operating expenses (monthly)$924
  • Net income (monthly)$4,076
  • Net return16.04%

Property Income & Expenses

  • Income
  • 239 Bayferry Road
  • 3 bed / 1 bath$750/month$9,000/year
  • 275 Bayferry Road, 8 units
  • Unit 1: 2 bed / 1 bath$500/month$6,000/year
  • Unit 2: 2 bed / 1 bath$500/month$6,000/year
  • Unit 3: 2 bed / 1 bath$500/month$6,000/year
  • Unit 4: 2 bed / 1 bath$500/month$6,000/year
  • Unit 5: 1 bed / 1 bath$400/month$4,800/year
  • Unit 6: 1 bed / 1 bath$400/month$4,800/year
  • Unit 7: 1 bed / 1 bath$400/month$4,800/year
  • Unit 8: 1 bed / 1 bath$400/month$4,800/year
  • 283 Bayferry Road
  • 2 bed / 1 bath$325/month$3,900/year
  • 301 Bayferry Road
  • 2 bed / 1 bath$325/month$3,900/year
  • Total$5,000/month$60,000/year
  • Expenses
  • Property Taxes$232/month$2,784/year
  • Insurance$325/month$3,900/year
  • Maintenance reserve$167/month$2,000/year
  • Lawn care$200/month$2,400/year
  • Total$924/month$11,084/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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