Value Add Rental

800 Randolph Street, Crescent City, FL

13.60% return

SP: $135,000

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Property Description

*WE CAN HELP WITH REHAB AND MANAGEMENT* Clear title, ready to close. Amazing investment opportunity. This property can generate a 15% net return on investment and a $25k profit after rehab. Total of 5 units, 2 duplexes and 1 single family. Property has separate meters for electric, water and gas. Solid concrete structures. Will rent easily for $2750/month or more. Next to a middle school. Units need cosmetic painting and cleanups. Low expenses and high income is easily doable as area has tons of rental demand. PVC plumbing and drainage. Only an hour away from St Augustine, Palm Coast and Daytona Beach.

Property Information

Listing statusSold
Property typeMulti Family
Total units5
Total bedrooms9
Total bathrooms5
Building size4293 sq. ft.
Lot size0.7 acres
Year built1960

CountyPutnam County
Subdivision
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingGas Furnace
CoolingWindow A/C

Property Financial Summary

Sale price$135,000
Estimated rehab¹$20,000
Total investment$155,000

TypeProforma
After repair value$180,000
Potential profit$25,000

Gross income (annually)$33,000
Operating expenses (annually)$11,925
Net income (annually)$21,075
Gross return21.29%

Gross income (monthly)$2,750
Operating expenses (monthly)$994
Net income (monthly)$1,756
Net return13.60%

Property Income & ExpensesMonthlyAnnual

Income

Duplex
Unit 1: 2 bed / 1 bath$550/month$6,600/year
Unit 2: 2 bed / 1 bath$550/month$6,600/year
Unit 3: 1 bed / 1 bath$450/month$5,400/year
Unit 4: 1 bed / 1 bath$450/month$5,400/year
SFH
Unit 5: 3 bed / 1 bath$750/month$9,000/year
Total$2,750/month$33,000/year

Expenses

Property Taxes$272/month$3,265/year
Insurance$250/month$3,000/year
Maintenance reserve$167/month$2,000/year
Lawn care$30/month$360/year
Property Management$275/month$3,300/year
Total$994/month$11,925/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.