Multi-family Investment Opportunity in Newark (North Broadway)

[Vita Dementchoukova]

1st Floor: Huge 1BR.

2nd Floor: 4BR.

Plus a basement apartment!   A cash cow! 

Multi-family detached (2 units + basement apartment)

5 Bed, 3 Bath

Real Estate Tax: Yearly $4,738/Monthly $394.83

2,137 sq. ft.

Lot size: 2,627 sq. ft.

Occupancy: Vacant

Parking: Street

Built in 1905

EST. YEARLY RENTAL INCOME ($2,875 = $1400 + 800 + 675) $34,500

EST. YEARLY VACANCY (5%) -$1,725

EST. YEARLY RENTAL INCOME $32,775

EST. UTILITIES -$1000

EST. INSURANCE -$1000

EST. TAXES -$4,738

EST. PROPERTY MANAGEMENT (10%) -$3,277

EST. REPAIRS (5%) -$1,638

EST. NET OPERATING INCOME (NOI) $21,122

ESTIMATED ROI (based on Est. Total Initial Investment of

$154,692 (turnkey price + rehab cost + holding cost) 13.7%