Updated over 9 years ago on . Most recent reply
A Little Work For a Big Reward
I'm selling the contract to a property located at 1528 N Rural, Indianapolis, IN. The property is poised to make you some good money!
The property is currently rented on a month to month lease at $400/month. Every market rent analysis I can find says this should be a minimum of $560/month. Given that, and some assumptions of vacancy at 8%, management at 10%, and maintenance at 15%, this property has an NOI of $3,100! For such a cheap contract, this opportunity is hard to pass up.
The house does have two things going against it. The buyer will have to pay around $1,300 in back taxes and the current taxes. Also, the house will need some repairs, namely a new roof. The current roof is old, but the tenant reports it has never leaked in the 15 years she has lived there.
Let me help you start of 2016 right!