Clarke County Villas
1500 N Archusa Avenue, Quitman, MS
15.59% 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

CASH COW ON 5.6 ACRES!! 

9 quadpexes in fenced in community with an office, laundromat, and storage. Less than 2 hours from Jackson, MS and 30 mins from Meridian, MS. Great condition. Tons of renovations have been done. PROPERTY WILL GENERATE AN AMAZING 15.59%+ RETURN ON INVESTMENT!! Newer metal roof. Separate electric and water meters. Central heat and air. Large units! 

Professional property management is available!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units36
  • Total bedrooms60
  • Total bathrooms48
  • Building size39950 sq. ft.
  • Lot size5.6 acres
  • Year built1983
  • CountyClarke County
  • Subdivision
  • ConstructionBrick/Frame
  • RoofMetal
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price $1,350,000
  • Estimated rehab 1 $0
  • Total investment $1,350,000
  • Type Proforma
  • Gross income (annually) $276,000
  • Operating expenses (annually) $65,483
  • Net income (annually) $210,517
  • Gross return 20.44%
  • Gross income (monthly) $23,000
  • Operating expenses (monthly) $5,457
  • Net income (monthly) $17,543
  • Net return 15.59%

Property Income & Expenses

  • Income
  • Laundry Income $800/month $9,600/year
  • Building 1
  • Unit 1: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 2: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 3: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 4: 2 bed / 1.5 bath $650/month $7,800/year
  • Building 2
  • Unit 5: 1 bed / 1 bath $550/month $6,600/year
  • Unit 6: 1 bed / 1 bath $550/month $6,600/year
  • Unit 7: 1 bed / 1 bath $550/month $6,600/year
  • Unit 8: 1 bed / 1 bath $550/month $6,600/year
  • Building 3
  • Unit 9: 1 bed / 1 bath $550/month $6,600/year
  • Unit 10: 1 bed / 1 bath $550/month $6,600/year
  • Unit 11: 1 bed / 1 bath $550/month $6,600/year
  • Unit 12: 1 bed / 1 bath $550/month $6,600/year
  • Building 4
  • Unit 13: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 14: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 15: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 16: 2 bed / 1.5 bath $650/month $7,800/year
  • Building 5
  • Unit 17: 1 bed / 1 bath $550/month $6,600/year
  • Unit 18: 1 bed / 1 bath $550/month $6,600/year
  • Unit 19: 1 bed / 1 bath $550/month $6,600/year
  • Unit 20: 1 bed / 1 bath $550/month $6,600/year
  • Building 6
  • Unit 21: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 22: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 23: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 24: 2 bed / 1.5 bath $650/month $7,800/year
  • Building 7
  • Unit 25: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 26: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 27: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 28: 2 bed / 1.5 bath $650/month $7,800/year
  • Building 8
  • Unit 29: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 30: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 31: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 32: 2 bed / 1.5 bath $650/month $7,800/year
  • Building 9
  • Unit 33: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 34: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 35: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 36: 2 bed / 1.5 bath $650/month $7,800/year
  • Total $23,000/month $276,000/year
  • Expenses
  • Property Management $2,200/month $26,400/year
  • Property Taxes $642/month $7,709/year
  • Electric bill $134/month $1,608/year
  • Waste Collection $399/month $4,782/year
  • Insurance $626/month $7,512/year
  • Water and Sewer $56/month $672/year
  • Maintenance reserve $1,050/month $12,600/year
  • Lawn care $350/month $4,200/year
  • Total $5,457/month $65,483/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.

Share Listing

Contact Property Agent

You need to have an account to send an inquiry.

Log In Register

Property Tools

 Print
Copyright by Real Pro, Inc 2021 . All Rights Reserved.