1000 Lynn Lane, Idabel, OK

13.04% return

SP: $375,000

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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 statusCancelled
Property typeMulti Family
Total units8
Total bedrooms16
Total bathrooms8
Building size(unknown)
Lot size1.5 acres
Year built1978

CountyMcCurtain County
Subdivision
ConstructionBrick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$375,000
Estimated rehab¹$0
Total investment$375,000

TypeProforma

Gross income (annually)$62,400
Operating expenses (annually)$13,510
Net income (annually)$48,890
Gross return16.64%

Gross income (monthly)$5,200
Operating expenses (monthly)$1,126
Net income (monthly)$4,074
Net return13.04%

Property Income & ExpensesMonthlyAnnual

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.