100 Reynolds Street, Mulberry, AR
13.49% return
SP:
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Property Description

AWESOME INVESTMENT!! 

8 unit complex. Currently rented below market value. Brand new roof! Property needs some cosmetic improvements to increase rents. Fort Smith MSA is home to 270,000 residents. Tons of rental demand in the area. Properties will generate an amazing return on investment once complete. Will easily appraise at $35-40k per unit after renovations. 

Property management and financing available!! 

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units8
  • Total bedrooms8
  • Total bathrooms8
  • Building size4950 sq. ft.
  • Lot size0.4 acres
  • Year built1970
  • CountyCrawford County
  • SubdivisionMULBERRY ORGINAL
  • ConstructionBrick
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWindow A/C

Property Financial Summary

  • Sale price$225,000
  • Estimated rehab1$10,000
  • Total investment$235,000
  • TypeProforma
  • After repair value$280,000
  • Potential profit$45,000
  • Gross income (annually)$43,200
  • Operating expenses (annually)$11,487
  • Net income (annually)$31,713
  • Gross return18.38%
  • Gross income (monthly)$3,600
  • Operating expenses (monthly)$957
  • Net income (monthly)$2,643
  • Net return13.49%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath$450/month$5,400/year
  • Unit 2: 1 bed / 1 bath$450/month$5,400/year
  • Unit 3: 1 bed / 1 bath$450/month$5,400/year
  • Unit 4: 1 bed / 1 bath$450/month$5,400/year
  • Unit 5: 1 bed / 1 bath$450/month$5,400/year
  • Unit 6: 1 bed / 1 bath$450/month$5,400/year
  • Unit 7: 1 bed / 1 bath$450/month$5,400/year
  • Unit 8: 1 bed / 1 bath$450/month$5,400/year
  • Total$3,600/month$43,200/year
  • Expenses
  • Water and Sewer$200/month$2,400/year
  • Property Taxes$106/month$1,267/year
  • Insurance$167/month$2,000/year
  • Maintenance reserve$125/month$1,500/year
  • Property Management$360/month$4,320/year
  • Total$957/month$11,487/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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