802 Se Avenue N, Idabel, OK
12.75% return
SP:
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Building 806-808 -
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Property Description

TURNKEY INVESTMENT!! 

6 duplexes, part of a 38 unit portfolio. Solid brick construction. Separate electric and water meters. City water and sewer. Central heat and air. Newer metal roofs. 

All units are fully occupied. 12%+ 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 units12
  • Total bedrooms24
  • Total bathrooms14
  • Building size11808 sq. ft.
  • Lot size0.0 acres
  • Year built1977
  • CountyMcCurtain County
  • Subdivision
  • ConstructionBrick
  • RoofMetal
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price $499,900
  • Estimated rehab 1 $0
  • Total investment $499,900
  • Type Proforma
  • Gross income (annually) $84,000
  • Operating expenses (annually) $20,262
  • Net income (annually) $63,738
  • Gross return 16.80%
  • Gross income (monthly) $7,000
  • Operating expenses (monthly) $1,689
  • Net income (monthly) $5,312
  • Net return 12.75%

Property Income & Expenses

  • Income
  • 1300-1302
  • Unit 1300: 2 bed / 1 bath $550/month $6,600/year
  • Unit 1302: 2 bed / 1 bath $550/month $6,600/year
  • 1304-1306
  • Unit 1304: 2 bed / 1 bath $550/month $6,600/year
  • Unit 1306: 2 bed / 1 bath $550/month $6,600/year
  • 1308-1310
  • Unit 1308: 2 bed / 1 bath $650/month $7,800/year
  • Unit 1310: 2 bed / 1 bath $650/month $7,800/year
  • 1312-1314
  • Unit 1312: 2 bed / 1 bath $650/month $7,800/year
  • Unit 1314: 2 bed / 1 bath $650/month $7,800/year
  • 802-804
  • Unit 802: 2 bed / 1.5 bath $550/month $6,600/year
  • Unit 804: 2 bed / 1.5 bath $550/month $6,600/year
  • 806-808
  • Unit 806: 2 bed / 1.5 bath $550/month $6,600/year
  • Unit 808: 2 bed / 1.5 bath $550/month $6,600/year
  • Total $7,000/month $84,000/year
  • Expenses
  • Property Taxes $333/month $4,000/year
  • Insurance (estimated) $304/month $3,642/year
  • Maintenance reserve $292/month $3,500/year
  • Lawn care $60/month $720/year
  • Property Management $700/month $8,400/year
  • Total $1,689/month $20,262/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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