Cash Flow Monster
302 N Main Street, Melbourne, AR
28.68% return
LP:
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Property Description

***50K SPECIAL!*** Incredible Investment Opportunity. Fully operational motel/apartments. Currently rented to weekly renters but is setup to take nightly customers as well. Transient motel license is in place. HUGE returns and HUGE income. Property can generate $10,000 in gross income with very low expenses. On-site manager. No deferred maintenance needed. Call us today.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units18
  • Total bedrooms(unknown)
  • Total bathrooms18
  • Building size5140 sq. ft.
  • Lot size0.0 acres
  • Year built1979
  • CountyIzard County
  • SubdivisionORIGINAL TOWN-MELBOURNE
  • ConstructionCBS
  • RoofMETAL
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C Units

Property Financial Summary

  • Asking price $250,000
  • Estimated rehab 1 $0
  • Total investment $250,000
  • Type Proforma
  • Gross income (annually) $129,600
  • Operating expenses (annually) $57,898
  • Net income (annually) $71,702
  • Gross return 51.84%
  • Gross income (monthly) $10,800
  • Operating expenses (monthly) $4,825
  • Net income (monthly) $5,975
  • Net return 28.68%

Property Income & Expenses

  • Income
  • Unit 1: 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
  • 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 17: studio / 1 bath $600/month $7,200/year
  • Unit 18: studio / 1 bath $600/month $7,200/year
  • Total $10,800/month $129,600/year
  • Expenses
  • Electric bill $750/month $9,000/year
  • Internet & Phone Bill $200/month $2,400/year
  • Property Taxes $168/month $2,013/year
  • Insurance $147/month $1,765/year
  • Water and Sewer $50/month $600/year
  • Maintenance reserve $750/month $9,000/year
  • Property Management $600/month $7,200/year
  • Vacancy $2,160/month $25,920/year
  • Total $4,825/month $57,898/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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