Free Classifieds
Home | Post Ad | My Account | Help | Affiliate Program | Local Classifieds | Just Viewed | Keyword Alerts
Username:
Password:
Affiliate Program
Post Ad
Enter your zip to find stuff near you
 
 Classifieds > Real Estate > Sale by OwnerFlag
Click here to flag this ad for review or to report a problem

ROI $114,240 Profit after expenses over 10 years

Item ID#:3336751Location:
Lansing, Michigan
Seller ID#:1020020 Views:
108
Price:$52500Expires:expired

This classified ad has expired

Click here to view current advertisements similar to this one.

*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

To see full property features and photos, email me at
louis.teejpropertiesllc@gmail.com

[please contact me for website address]

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)

Monthly Cash Flow (after expenses) $952 x 12 = $11,424 x 10yr s=$$114,240

The only ad you would ever have to run for tenants is 1.5 blocks W of Dart Auditorium at LCC $300/+1/5 utl. Per mo.

Then just list your property managerís contact number. Remember, you only need 5 tenants a year. Local property manager info. available upon request.

[please contact me for website address]
Share
My Account
Post Ad
Local Classifieds
Help Topics
Copyright© 1999 - 2014 USFreeads. All rights reserved
Please read our Terms of service & Privacy Policy

Contact Us
Privacy Policy
Terms of Service
0

kdpAtttHHvHHvHk
12/28/2014 5:49:06 AM UTC