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Forums » Residential Property, Land, & Farms For Sale » W. Michigan Rental

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Tag Tags: michigan sfh cap rental


Donna M.

Real Estate Investor · Hawaii


Forum_avatar_avatar-dhmanago

Icon_minipost Jun 13 '09, 03:38 PM

SFH in Muskegon, Michigan
Originally a 2/1 but an upstairs space was recently converted into a bedroom or office, appx. 1000 sq feet, comps in the past 6mos. avg. $32k (Trulia), corner lot, near a hospital and schools, minutes from the lake, will rent for $550, needs just carpet and paint, quoted $5k for repairs

Selling for $12k

NOI $3k/ PP $12k+ repairs $5k= 17.6% CAP rate

Edited: 06/26/2010 at 08:35AM


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