Updated over 8 years ago on . Most recent reply
51 unit rental portfolio
This 51-Unit Single Family Rental HomePortfolioconsists of 45 three-bedroom homes, 6 four-bedroom homes, and 1 two-bedroom home with an average size of 1,434 square feet. Current in-place rents are $986 per month with historically high occupancy that is currently at 98%. Tenants are responsible for all utilities.
average list price of $86,538 per home
§home/mo. below market average at only $0.69 rent per square foot for the portfolio
§Offered at Current Gross Yield of 13.7% and 14.5% based on market rents
§In-place 20% Cash-on-Cash returns at only a 75% LTV and Total Return of 27% based on T-12
§Well-managed portfolio with current occupancy at 98% and average tenant stay of approximately 3 years. The current management company is willing on
§Non-recourse debt available at 75% LTV with an estimated Debt Service Coverage Ratio of 1.67 based on portfolio list price