941 Lincoln Street, Babson Park, FL

11.80% return

SP: $99,000

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Property Description

***10K SPECIAL!*** Buy this property with $10,000 down!Awesome duplex rental property. Decent condition, needs some TLC. Tons of appreciation potential. Currently rented at $650 per unit. Solid structure. Located in one of the fastest growing counties in the state. Minutes from Webber International University, a private institution of higher learning. 14% net return on investment. Very inexpensive property to own and maintain. Purchase this in a package with a single family on the same street.

Property Information

Listing statusSold
Property typeMulti Family
Total units2
Total bedrooms4
Total bathrooms2
Building size1524 sq. ft.
Lot size0.3 acres
Year built1971

CountyPolk County
SubdivisionLINDUS PARK
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWindow Unit
CoolingWindow A/C

Property Financial Summary

Sale price$99,000
Estimated rehab¹$0
Total investment$99,000

TypeProforma

Gross income (annually)$15,600
Operating expenses (annually)$3,916
Net income (annually)$11,684
Gross return15.76%

Gross income (monthly)$1,300
Operating expenses (monthly)$326
Net income (monthly)$974
Net return11.80%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$650/month$7,800/year
Unit 2: 2 bed / 1 bath$650/month$7,800/year
Total$1,300/month$15,600/year

Expenses

Property Taxes$30/month$356/year
Insurance$100/month$1,200/year
Maintenance reserve$167/month$2,000/year
Lawn care$30/month$360/year
Total$326/month$3,916/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.