107 West 2nd Street, Clarksdale, MS
15.37% return
SP:
Video Photos Street View Map
The slide show is now full screen. Push Escape to exit. You can use the left/right arrows and Home/End buttons to navigate the images.
Slideshow image 1
Slideshow image 2
Slideshow image 3
Slideshow image 4
Slideshow image 5

Property Description

ONLY $22K PER DOOR - A BARGAIN TO BE HAD! 

35 units in Mississippi! Properties consist of a 9 unit building and a 26 unit building. Located in an area of rich culinary, religious, artistic, and literary heritiage. No major rehab needed. Separate electric meters. Potential to generate over $200k PER YEAR and a 15.37% NET RETURN!! Newer roof. Tankless water heaters. This deal will not last! 

Property managemnet and financing available!

Property Information

  • Listing statusSold
  • Property typeMulti Family (2 properties)
  • Total units35
  • Total bedrooms55
  • Total bathrooms35
  • Building size24457 sq. ft.
  • Lot size0.0 acres
  • Year built1950
  • CountyCoahoma County
  • Subdivision
  • ConstructionFrame, Brick
  • RoofAsphalt Shingle, Roll Composite
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $785,000
  • Estimated rehab 1 $0
  • Total investment $785,000
  • Type Proforma
  • Gross income (annually) $201,000
  • Operating expenses (annually) $80,350
  • Net income (annually) $120,650
  • Gross return 25.61%
  • Gross income (monthly) $16,750
  • Operating expenses (monthly) $6,696
  • Net income (monthly) $10,054
  • Net return 15.37%

Property Income & Expenses

  • Income
  • 107 West 2nd Street, Main
  • Unit 1: 1 bed / 1 bath $425/month $5,100/year
  • Unit 2: 1 bed / 1 bath $425/month $5,100/year
  • Unit 3: 1 bed / 1 bath $425/month $5,100/year
  • Unit 4: 1 bed / 1 bath $425/month $5,100/year
  • Unit 5: 1 bed / 1 bath $425/month $5,100/year
  • Unit 6: 1 bed / 1 bath $425/month $5,100/year
  • Unit 7: 2 bed / 1 bath $500/month $6,000/year
  • Unit 8: 2 bed / 1 bath $500/month $6,000/year
  • Unit 9: 2 bed / 1 bath $500/month $6,000/year
  • 125 West 2nd Street, Main
  • Unit 1: studio / 1 bath $400/month $4,800/year
  • Unit 2: studio / 1 bath $400/month $4,800/year
  • Unit 3: studio / 1 bath $400/month $4,800/year
  • Unit 4: studio / 1 bath $400/month $4,800/year
  • Unit 5: 1 bed / 1 bath $450/month $5,400/year
  • Unit 6: 1 bed / 1 bath $450/month $5,400/year
  • Unit 7: 1 bed / 1 bath $450/month $5,400/year
  • Unit 8: 1 bed / 1 bath $450/month $5,400/year
  • Unit 9: 2 bed / 1 bath $500/month $6,000/year
  • Unit 10: 2 bed / 1 bath $500/month $6,000/year
  • Unit 11: 2 bed / 1 bath $500/month $6,000/year
  • Unit 12: 2 bed / 1 bath $500/month $6,000/year
  • Unit 13: 2 bed / 1 bath $500/month $6,000/year
  • Unit 14: 2 bed / 1 bath $500/month $6,000/year
  • Unit 15: 2 bed / 1 bath $500/month $6,000/year
  • Unit 16: 2 bed / 1 bath $500/month $6,000/year
  • Unit 17: 2 bed / 1 bath $500/month $6,000/year
  • Unit 18: 2 bed / 1 bath $500/month $6,000/year
  • Unit 19: 2 bed / 1 bath $500/month $6,000/year
  • Unit 20: 2 bed / 1 bath $500/month $6,000/year
  • Unit 21: 2 bed / 1 bath $500/month $6,000/year
  • Unit 22: 2 bed / 1 bath $500/month $6,000/year
  • Unit 23: 2 bed / 1 bath $500/month $6,000/year
  • Unit 24: 3 bed / 1 bath $600/month $7,200/year
  • Unit 25: 3 bed / 1 bath $600/month $7,200/year
  • Unit 26: 3 bed / 1 bath $600/month $7,200/year
  • Total $16,750/month $201,000/year
  • Expenses
  • Property Taxes $1,483/month $17,800/year
  • Utilities $1,400/month $16,800/year
  • Insurance (estimated) $1,167/month $14,000/year
  • Maintenance reserve $621/month $7,450/year
  • Property Management $1,675/month $20,100/year
  • Lawn care $350/month $4,200/year
  • Total $6,696/month $80,350/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.

Copyright by Real Pro, Inc 2022 . All Rights Reserved.