*ROI $114,240 Profit after expenses over 10 years
STUDENT HOUSING RENTAL UNIT FOR SALE. Cash flow $434 (10% Cap Rate) to $952 (21% Cap Rate) per mo. (See break downs)
*Non-stop flow of tenant candidates. Consistently rented last three (3) years.
*Leased thru July at $925/mo plus tenants pay utilities. If any rehab is done to Kitchen, rent goes up $50/mo per current lease agreement.
*Located 1.5 blocks W of Dart Auditorium at Lansing Community College
*Property is licensed as a rental
To see full property features and photos, go to: http://www.postlets.com/repb/8862459
315 W Genesee St. Lansing, MI 48933
5 br, 2 full bth, 1900 Sq ft, built in 1907
ESTIMATED ARV= $75,600
Additional TLC could pay for itself in increased rents
Purchase Price $52,500
CASH DEALS ONLY.
Current Operating Income= $925
Current Operating Expenses
Hazard Insurance with Rental coverage: $84/mo
Monthly Maintenance Reserve:$80/mo Optional)
Monthly Property Management:$93/mo(Optional)
Monthly Non-Homestead Taxes:$234/mo
Monthly Cash Flow= $434 Annual Cash Flow=$5,208
Cap Rate= 10%
Cap Rate based on Annual Cash Flow ($5,208) divided by sum total of Purchase Price ($52,500), Closing Costs (1500)
AFTER CURRENT LEASE EXPIRES AND YOU WERE TO LEASE EACH ROOM AT $300/EA PLUS 1/5 UTILITIES
Operating Income= $1,500
Operating Expenses
Hazard Insurance with Rental coverage:$84/mo
Monthly Maintenance Reserve:$80/mo (Optional)
Monthly Property Management:$150/mo (Optional)
Monthly Non-Homestead Taxes:$234/mo
Monthly Cash Flow= $952 Annual Cash Flow=$11,424
Cap Rate= 21%
Cap Rate based on Annual Cash Flow ($11,424) divided by sum total of Purchase Price ($52,500), Closing Costs (1500)
PM me for any other info please. Thanks.
*ROI $114,240 Profit after expenses over 10 years
STUDENT HOUSING RENTAL UNIT FOR SALE. Cash flow $434 (10% Cap Rate) to $952 (21% Cap Rate) per mo. (See break downs)
*Non-stop flow of tenant candidates. Consistently rented last three (3) years.
*Leased thru July at $925/mo plus tenants pay utilities. If any rehab is done to Kitchen, rent goes up $50/mo per current lease agreement.
*Located 1.5 blocks W of Dart Auditorium at Lansing Community College
*Property is licensed as a rental
To see full property features and photos, go to:
http://www.postlets.com/repb/8862459
315 W Genesee St. Lansing, MI 48933
5 br, 2 full bth, 1900 Sq ft, built in 1907
ESTIMATED ARV= $75,600
Additional TLC could pay for itself in increased rents
Purchase Price $52,500
CASH DEALS ONLY.
Current Operating Income= $925
Current Operating Expenses
Hazard Insurance with Rental coverage: $84/mo
Monthly Maintenance Reserve:$80/mo Optional)
Monthly Property Management:$93/mo(Optional)
Monthly Non-Homestead Taxes:$234/mo
Monthly Cash Flow= $434 Annual Cash Flow=$5,208
Cap Rate= 10%
Cap Rate based on Annual Cash Flow ($5,208) divided by sum total of Purchase Price ($52,500), Closing Costs (1500)
AFTER CURRENT LEASE EXPIRES AND YOU WERE TO LEASE EACH ROOM AT $300/EA PLUS 1/5 UTILITIES
Operating Income= $1,500
Operating Expenses
Hazard Insurance with Rental coverage:$84/mo
Monthly Maintenance Reserve:$80/mo (Optional)
Monthly Property Management:$150/mo (Optional)
Monthly Non-Homestead Taxes:$234/mo
Monthly Cash Flow= $952 Annual Cash Flow=$11,424
Cap Rate= 21%
Cap Rate based on Annual Cash Flow ($11,424) divided by sum total of Purchase Price ($52,500), Closing Costs (1500)
PM me for any other info please. Thanks.