Specialist · Victor, NY · Member since 2013 · 823 posts · 844 votes
Up for sale is 13 well maintained units in and around the 19th Ward in Rochester NY. Portfolio consists of 6 houses (2-3 units ea) with units ranging from Studio to 3BR. All separate utilities, C of O's, delivered fully tenanted with HIGH QUALITY management in place and willing to stay on.
Gross rent: $90,760
Vacancy: $4,539
Water/Sewer: $2,160
Property taxes: $17,016
Insurance: $3,000
Management: $9,076
Total Expenses: $31,254
NOI: $54,987
Asking $445,000.
Assuming 20% down with remainder at 7% (sorry but I am not able to hold paper) over 30 years with Closing costs of 5% ($22,500), the annual debt service would be $28,689 which produces annual cash flow of $26,298.