2016 Nw 24th Road, Ocala, FL

14.70% return

SP: $59,900

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Property Description

Amazing investment opportunity in today's market. Concrete block house on city water and sewer. One of the fastest growing areas in the state. Property is currently vacant. Will rent at $1000/month after cosmetic improvements. Get a 11%+ return on investment. Tons of upside and appreciation.

Property Information

Listing statusSold
Property typeSingle Family
Total units1
Total bedrooms3
Total bathrooms1.5
Building size1195 sq. ft.
Lot size0.3 acres
Year built1975

CountyMarion County
SubdivisionHOWARD HEIGHTS
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$59,900
Estimated rehab¹$5,000
Total investment$64,900

TypeProforma
After repair value$90,000
Potential profit$25,100

Gross income (annually)$12,000
Operating expenses (annually)$2,463
Net income (annually)$9,537
Gross return18.49%

Gross income (monthly)$1,000
Operating expenses (monthly)$205
Net income (monthly)$795
Net return14.70%

Property Income & ExpensesMonthlyAnnual

Income

3 bed / 1.5 bath$1,000/month$12,000/year
Total$1,000/month$12,000/year

Expenses

Property Taxes$73/month$875/year
Insurance$49/month$588/year
Maintenance reserve$83/month$1,000/year
Total$205/month$2,463/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.