Rental Package
1705 45th Ave, Meridian, MS
16.42% return
SP:
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Property Description

Awesome Cashflow Portfolio!!

3 duplexes, 3 quadplexes and 13 houses. Total of 31 units. Only $23k per unit!! Properties are in decent shape but are in need of better management and some cosmetic repairs. Package will generate amazing returns on investment, Property will generate a 15% net return!! Nice city, full of businesses. Tons of rental demand. City water and sewer. Very low expenses. Priced way below market value for a quick sale. Steal these properties before they hit the market!!

Financing and professional property management is available. 

Property Information

  • Listing statusActive
  • Property typeMulti Family (12 properties)
  • Total units30
  • Total bedrooms61
  • Total bathrooms31
  • Building size26291 sq. ft.
  • Lot size8500.5 acres
  • Year built1948 - 1970
  • CountyLauderdale County
  • Subdivision
  • ConstructionBrick, Frame, WOOD, CBS
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral, Gas Furnace
  • CoolingCentral air, Window A/C

Property Financial Summary

  • Sale price $719,900
  • Estimated rehab 1 $80,000
  • Total investment $799,900
  • Type Proforma
  • After repair value $899,900
  • Potential profit $100,000
  • Gross income (annually) $195,600
  • Operating expenses (annually) $64,288
  • Net income (annually) $131,312
  • Gross return 24.45%
  • Gross income (monthly) $16,300
  • Operating expenses (monthly) $5,357
  • Net income (monthly) $10,943
  • Net return 16.42%

Property Income & Expenses

  • Income
  • 1214 13th Street, Building 1
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • 1214 13th Street, Building 2
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • 1705 45th Ave, Duplex 1
  • Unit 1705 45th Ave #1: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1705 45th Ave #2: 2 bed / 1 bath $500/month $6,000/year
  • 1705 45th Ave, Duplex 2
  • Unit 1707 45th Ave #1: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1707 45th Ave #2: 2 bed / 1 bath $500/month $6,000/year
  • 1705 45th Ave, Duplex 3
  • Unit 1709 45th Ave #1: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1709 45th Ave #2: 2 bed / 1 bath $500/month $6,000/year
  • 1733 45th Ave, Quadplex 1
  • Unit 1733 45th Ave A: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1733 45th Ave B: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1733 45th Ave C: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1733 45th Ave D: 2 bed / 1 bath $500/month $6,000/year
  • 1733 45th Ave, Quadplex 2
  • Unit 1735 45th Ave A: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1735 45th Ave B: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1735 45th Ave C: 2 bed / 1 bath $500/month $6,000/year
  • Unit 1735 45th Ave D: 2 bed / 1 bath $500/month $6,000/year
  • 2410 42nd Avenue,
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • 2458 40th Avenue,
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • 3425 40th Avenue,
  • Unit House: 3 bed / 2 bath $700/month $8,400/year
  • 3601 40th Avenue,
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • 3926 12th Street,
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • 4220 22nd Street,
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • 4507 Highland Park Drive,
  • Unit 4507 Highland Park Dr A: 2 bed / 1 bath $500/month $6,000/year
  • Unit 4507 Highland Park Dr B: 2 bed / 1 bath $500/month $6,000/year
  • Unit 4507 Highland Park Dr C: 2 bed / 1 bath $500/month $6,000/year
  • Unit 4507 Highland Park Dr D: 2 bed / 1 bath $500/month $6,000/year
  • 612 13th Avenue, House
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • Unit House: 2 bed / 1 bath $600/month $7,200/year
  • Total $16,300/month $195,600/year
  • Expenses
  • Insurance $833/month $9,995/year
  • Waste Collection $199/month $2,394/year
  • Property Management $1,570/month $18,840/year
  • Maintenance reserve $1,018/month $12,219/year
  • Property Taxes $1,737/month $20,840/year
  • Total $5,357/month $64,288/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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