$9,900 - Great Long Term Investment – 20.4% ROI
Additional photos can be viewed here:
This is your chance to own the ugly house on the block, and with a little work restore it to the cash flow machine that it used to be. This house has great bones, with a newer roof and mechanicals, and plumbing and wiring intact. 3-4 bedrooms, detached garage, and on a quiet block. The house primarily needs cosmetic work, but will make a great rental for a family looking for a place to call home! The rehab cost will run between $8,000 and $10,000 depending on how extensive you would want it to be. The monthly rent amount would be $600-$650/month. This house would also be an ideal candidate for an investor looking to sell on land contract or lease option.
Here are the numbers, as a cash-flow property:
1714 O’Brien Street, South Bend, IN 46628
Our Price - $9,900
Rehab Cost - $8,000
Total Monthly Income - $600
Yearly Income (Based on 1 month vacancy) - $6,600
Yearly Taxes - $1,032.32
Yearly Insurance - $600
Yearly Management/Maintenance Fees - $1,320
Yearly NOI - $3,647.68
ROI/Cash On Cash - 20.4%
Professional management is available. Serious cash buyer inquiries only please.
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