1000 Lynn Lane, Idabel, OK
13.04% return
SP:
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Property Description

TURNKEY INVESTMENT!! 

8 townhomes, part of a 38 unit portfolio. Solid brick construction. Separate electric and water meters. City water and sewer. Central heat and air. 

All units are fully occupied. 13%+ net return on investment. No deferred maintenance required. 

No rental listings in city and county!!! Tons of rental demand in the area. 

Professional property management is available. Perfect for an out of state investor.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units8
  • Total bedrooms16
  • Total bathrooms8
  • Building size(unknown)
  • Lot size1.5 acres
  • Year built1978
  • CountyMcCurtain County
  • Subdivision
  • ConstructionBrick/Frame
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price $375,000
  • Estimated rehab 1 $0
  • Total investment $375,000
  • Type Proforma
  • Gross income (annually) $62,400
  • Operating expenses (annually) $13,510
  • Net income (annually) $48,890
  • Gross return 16.64%
  • Gross income (monthly) $5,200
  • Operating expenses (monthly) $1,126
  • Net income (monthly) $4,074
  • Net return 13.04%

Property Income & Expenses

  • Income
  • 1000
  • Unit A: 2 bed / 1 bath $650/month $7,800/year
  • Unit B: 2 bed / 1 bath $650/month $7,800/year
  • Unit C: 2 bed / 1 bath $650/month $7,800/year
  • Unit D: 2 bed / 1 bath $650/month $7,800/year
  • 1010
  • Unit A: 2 bed / 1 bath $650/month $7,800/year
  • Unit B: 2 bed / 1 bath $650/month $7,800/year
  • Unit C: 2 bed / 1 bath $650/month $7,800/year
  • Unit D: 2 bed / 1 bath $650/month $7,800/year
  • Total $5,200/month $62,400/year
  • Expenses
  • Insurance $243/month $2,920/year
  • Maintenance reserve $208/month $2,500/year
  • Lawn care $45/month $540/year
  • Property Management $520/month $6,240/year
  • Property Taxes $109/month $1,310/year
  • Total $1,126/month $13,510/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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