12 Property Package In South Bend, IN - Great Investment Deal!
This is a package of both performing and non performing homes in different neighborhoods in South Bend. Twelve total homes, only 3 of which are currently vacant. Five are sold on land contracts with terms ranging from 30 to 120 months and interest rates between 8% and 11.9%. The remaining 4 properties are currently rented. Current total monthly rental income is $2,050/month, land contract income is $1,924.51/month, and the potential rent for the three vacants would be in the range of $1,500/month total. The three vacant homes are going to need $8,000-$10,000 in rehab a piece. Professional management is available, making this a perfect hands-off absentee investment. Asking price $198,000.
Deal Summary:
- 12 total properties
- 9 properties rented or sold on land contract, 3 properties vacant
- Total monthly rental income - $2,050
- Total monthly LC income - $1,924.51
- Vacant properties would get $1,500/month
- Vacant properties need $8,000-$10,000 in rehab each
- Our asking price - $198,000
Photos can be viewed via the following Dropbox link:
Interested parties please respond to this ad directly.