Forest Rental Package

2108 Ne 3rd Street, Ocala, FL

13.56% return

SP: $180,000

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Property Description

Diamond in the rough!! Amazing investment property in the beautiful horse country. Two duplexes on 41,160 sq ft of land. Huge lot enough space to add more units to this property. Property has potential to generate $3,000/month at $750/month each unit. Tenants will be paying all utilities and maintaining the yard. Currently has one vacancy and lower rents but tenants are ready to move out. Concrete block. Separate electric and water meters. Central heat and air. Call us today. Property needs repairs. Very nice area, b+. After repair value of over $240,000!

Property Information

Listing statusSold
Property typeMulti Family
Total units4
Total bedrooms8
Total bathrooms4
Building size4954 sq. ft.
Lot size1.0 acres
Year built1963

CountyMarion County
SubdivisionORANGE VIEW
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$180,000
Estimated rehab¹$20,000
Total investment$200,000

TypeProforma
After repair value$230,000
Potential profit$30,000

Gross income (annually)$36,000
Operating expenses (annually)$8,889
Net income (annually)$27,111
Gross return18.00%

Gross income (monthly)$3,000
Operating expenses (monthly)$741
Net income (monthly)$2,259
Net return13.56%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$750/month$9,000/year
Unit 1: 2 bed / 1 bath$750/month$9,000/year
Unit 2: 2 bed / 1 bath$750/month$9,000/year
Unit 2: 2 bed / 1 bath$750/month$9,000/year
Total$3,000/month$36,000/year

Expenses

Property Taxes$191/month$2,289/year
Insurance$300/month$3,600/year
Maintenance reserve$250/month$3,000/year
Total$741/month$8,889/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.