Updated almost 10 years ago on . Most recent reply
$15,000 - Excellent Property Needing TLC - 20.5% ROI
We have a great property here, located in the Far Northwest side of South Bend. Property needs some TLC, but all plumbing, electrical and mechanicals are intact. The house directly to the right is being renovated, as well as one 2 houses to the left, on the same side of the street. Neighborhood is one of the better in the area, and is seeing a lot of renewal activity. Property is currently vacant.
3 Bed / 1 Bath / 720 SqFt / 4960 SqFt Lot / No Garage / Built 1946
Here are the numbers, as a cash-flow property:
1614 N Johnson Street, South Bend, IN 46628
Our Price - $15,000
Rehab Cost - $6,000
Total Potential Monthly Income - $650
Yearly Income (Based on 1 month vacancy) - $7,150
Yearly Taxes - $812.78
Yearly Insurance - $600
Yearly Management/Maintenance Fees - $1,430
Yearly NOI - $4,307.22
ROI/Cash On Cash - 20.5%
Professional management and rehab services are available. Serious cash buyer inquiries only please.
Email for more information.