Cash Flow Monster
302 N Main Street, Melbourne, AR
33.15% return
LP:
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Property Description

Incredible Investment Opportunity. Motel, converted to weekly rentals. 33%+ NET return on investment with $8,000 in net monthly income when fully occupied!!! 18 Rooms plus a large owners suite. Newer Metal Roof. Tile Floors. Lower Crime Area. Only Motel in town. Weekly rentals start at $150-200 per week. $25,000/month in gross income is possible with nightly rentals during the season. Very high returns on investment with low expenses. Property can easily afford an on-site manager. Call today!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units18
  • Total bedrooms0
  • Total bathrooms17
  • Building size5140 sq. ft.
  • Lot size0.0 acres
  • Year built1979
  • CountyIzard County
  • SubdivisionORIGINAL TOWN-MELBOURNE
  • ConstructionCBS
  • RoofMETAL
  • Water sourceCity
  • Water disposalSewer
  • Heating(unknown)
  • Cooling(unknown)

Property Financial Summary

  • Asking price $299,000
  • Estimated rehab 1 $0
  • Total investment $299,000
  • Type Proforma
  • Gross income (annually) $129,600
  • Operating expenses (annually) $30,478
  • Net income (annually) $99,122
  • Gross return 43.34%
  • Gross income (monthly) $10,800
  • Operating expenses (monthly) $2,540
  • Net income (monthly) $8,260
  • Net return 33.15%

Property Income & Expenses

  • Income
  • Unit 1: bed / bath $600/month
  • Unit 10: bed / bath $600/month
  • Unit 11: bed / bath $600/month
  • Unit 12: bed / bath $600/month
  • Unit 13: bed / bath $600/month
  • Unit 14: bed / bath $600/month
  • Unit 15: bed / bath $600/month
  • Unit 16: bed / bath $600/month
  • Unit 17: bed / bath $600/month
  • Unit 18: bed / bath $600/month
  • Unit 2: bed / bath $600/month
  • Unit 3: bed / bath $600/month
  • Unit 4: bed / bath $600/month
  • Unit 5: bed / bath $600/month
  • Unit 6: bed / bath $600/month
  • Unit 7: bed / bath $600/month
  • Unit 8: bed / bath $600/month
  • Unit 9: bed / bath $600/month
  • Total $10,800/month
  • Expenses
  • Electric bill $725/month
  • Internet & Phone Bill $200/month
  • Property Taxes $168/month
  • Insurance $147/month
  • Water and Sewer $50/month
  • Maintenance reserve $750/month
  • Property Management $500/month
  • Total $2,540/month

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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