607 Wilson Street W, Borger, TX
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10.41% return
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Property Description

Great value add opportunity. Total of three buildings. Property rented way below market value with the potential to increase rents. Minor TLC needed. Concrete block construction. City water and sewer. There are tons of job opportunities in the area and it is located in a booming area of Texas, where oil and gas production is one of the primary industries . Professional property management is available.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units10
  • Total bedrooms20
  • Total bathrooms10
  • Building size17925 sq. ft.
  • Lot size0.5 acres
  • Year built1950
  • CountyHutchinson County
  • SubdivisionWILSON 02520
  • ConstructionCBS
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingWINDOW UNIT A/C
  • CoolingWindow A/C

Property Financial Summary

  • Asking price $275,000
  • Estimated rehab 1 $0
  • Total investment $275,000
  • Type Proforma
  • Gross income (annually) $48,000
  • Operating expenses (annually) $19,375
  • Net income (annually) $28,625
  • Gross return 17.45%
  • Gross income (monthly) $4,000
  • Operating expenses (monthly) $1,615
  • Net income (monthly) $2,385
  • Net return 10.41%

Property Income & Expenses

  • Income
  • Duplex
  • Unit 1: 2 bed / 1 bath $400/month $4,800/year
  • Unit 2: 2 bed / 1 bath $400/month $4,800/year
  • Multi Unit
  • Unit 6: 2 bed / 1 bath $400/month $4,800/year
  • Unit 7: 2 bed / 1 bath $400/month $4,800/year
  • Unit 8: 2 bed / 1 bath $400/month $4,800/year
  • Unit 9: 2 bed / 1 bath $400/month $4,800/year
  • Unit 10: 2 bed / 1 bath $400/month $4,800/year
  • Triplex
  • Unit 3: 2 bed / 1 bath $400/month $4,800/year
  • Unit 4: 2 bed / 1 bath $400/month $4,800/year
  • Unit 5: 2 bed / 1 bath $400/month $4,800/year
  • Total $4,000/month $48,000/year
  • Expenses
  • Insurance $125/month $1,500/year
  • Property Taxes $125/month $1,500/year
  • Water and Sewer $144/month $1,722/year
  • Property Management $608/month $7,300/year
  • Maintenance reserve $417/month $5,000/year
  • Electric bill $90/month $1,076/year
  • Gas Utility Bill $106/month $1,277/year
  • Total $1,615/month $19,375/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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