303 North 3rd Street, Laurens, IA
9.65% return
SP:
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303 N 3rd St
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Property Description

Amazing cashflow! 

5 units in Iowa. Part of a larger portfolio of 50 units. COMPLETELY TURNKEY!  $3000 per month in income, 9.65%+ NET RETURN on investment!! Very low expenses. Separate electric meters!! Other units in the portfolio are located in one city, minutes away from each other. Professional property management is available. Please refer to other listings, as units can be placed in a package and purchased together. This is an opportunity to build a huge rental portfolio without putting in the work! Do not miss out on this, as package will get smaller. 

Property management and financing available!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units5
  • Total bedrooms10
  • Total bathrooms5
  • Building size3304 sq. ft.
  • Lot size0.1 acres
  • Year built1973
  • CountyPocahontas County
  • Subdivision
  • ConstructionBrick/Frame
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $275,000
  • Estimated rehab 1 $0
  • Total investment $275,000
  • Type Proforma
  • Gross income (annually) $36,000
  • Operating expenses (annually) $9,450
  • Net income (annually) $26,550
  • Gross return 13.09%
  • Gross income (monthly) $3,000
  • Operating expenses (monthly) $788
  • Net income (monthly) $2,213
  • Net return 9.65%

Property Income & Expenses

  • Income
  • Unit 10: 2 bed / 1 bath $600/month $7,200/year
  • Unit 11: 2 bed / 1 bath $600/month $7,200/year
  • Unit 12: 2 bed / 1 bath $600/month $7,200/year
  • Unit 13: 2 bed / 1 bath $600/month $7,200/year
  • Unit 14: 2 bed / 1 bath $600/month $7,200/year
  • Total $3,000/month $36,000/year
  • Expenses
  • Property Taxes $83/month $1,000/year
  • Utilities $175/month $2,100/year
  • Maintenance reserve $104/month $1,250/year
  • Insurance (estimated) $125/month $1,500/year
  • Property Management $300/month $3,600/year
  • Total $788/month $9,450/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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