Potential Cash on Cash Return |
So much work has been done to this property within the last eighteen months:
- New roof
- New paint inside and out
- New flooring
- New windows!
Each unit is approximately 960 sf (not including separate laundry facilities in the basement) and includes three bedrooms and one bath.
One side of this duplex is currently rented for $625 per month. The second side is renting for $665.00 per month. Tenants pay for water, electricity, trash pick-up and Direct TV separately from the rent.
If an investor purchased this property, the financial information may be similar to the following:
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Purchase price
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$ 199,000
|
|
25% Down payment
|
49,750
|
|
Financed at 6.375% interest
for 30 years
|
149,250
|
|
Monthly Cash Flow
|
|
Estimated Monthly Income
|
|
Rents of $625/mo. and $665/mo.
|
$ 1,290.00
|
|
Estimated Monthly Cash Out/Expenses
|
|
Mortgage Payment
|
$ 931.13
|
|
Property taxes (Est. $700/yr.)
|
58.33
|
|
Property Insurance (Est $480/yr.)
|
40.00
|
|
Total Monthly Expenses
|
$ 1,029.49/mo
|
|
Net Monthly Income
|
$ 260.54
|
|
$
Information is deemed reliable, but cannot be warranted or guaranteed. It is recommended that buyers inspect, investigate and verify.
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