721 W Bancroft Street, Toledo, OH
14.67% return
SP:
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Property Description

Insane investment opportunity!!! 

2 buildings, 6 units total. Huge floor plans and very high rents. Very decent condition. Properties will easily generate a 15%+ net return on investment. Located in a major city, over 600k residents in the MSA. Tons of rental demand. Beautiful area. Near universities, parks and an art museum. This property will sell quickly, call us today.

Property Information

  • Listing statusActive C
  • Property typeMulti Family (2 properties)
  • Total units6
  • Total bedrooms15
  • Total bathrooms8
  • Building size12552 sq. ft.
  • Lot size0.1 acres
  • Year built1907 - 1920
  • CountyLucas County
  • SubdivisionROSEDALE
  • ConstructionFrame
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingGas Furnace
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $265,000
  • Estimated rehab 1 $0
  • Total investment $265,000
  • Type Proforma
  • Gross income (annually) $52,800
  • Operating expenses (annually) $13,914
  • Net income (annually) $38,886
  • Gross return 19.92%
  • Gross income (monthly) $4,400
  • Operating expenses (monthly) $1,160
  • Net income (monthly) $3,241
  • Net return 14.67%

Property Income & Expenses

  • Income
  • 2160 Glenwood Avenue, Quadplex
  • Unit 1: 3 bed / 2 bath $900/month $10,800/year
  • Unit 2: 2 bed / 1 bath $600/month $7,200/year
  • Unit 3: 2 bed / 1 bath $600/month $7,200/year
  • Unit 4: 2 bed / 1 bath $600/month $7,200/year
  • 721 W Bancroft Street, Duplex
  • Unit 1: 4 bed / 2 bath $1,000/month $12,000/year
  • Unit 2: 2 bed / 1 bath $700/month $8,400/year
  • Total $4,400/month $52,800/year
  • Expenses
  • Property Taxes $383/month $4,594/year
  • Insurance $217/month $2,600/year
  • Maintenance reserve $500/month $6,000/year
  • Lawn care $60/month $720/year
  • Total $1,160/month $13,914/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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