27% Cap Rate - Rent: $1,800/m - Buy: $60,000 TODAY!

[Austin Faux]

Hi,

Austin here from Miracle Real Estate Group and we've got a hot investment property that's perfect for renting! Just blocks away from two colleges! Huge 27% Cap Rate, and Cash Buyers can get into this property ASAP!

Investor Summary: 315 6th Ave Grinnell, Iowa 50112. About a 50 minute drive outside Des Moines and Iowa City. This one parcel has a Triplex and Duplex for sale, totaling 5 units with 4 of the 5 units currently occupied and the fifth unit in need of repair. Current gross rental income from the 4 units is $1400 a month. When the 5th is operational, gross rental income will be between $1800 and $1850 per month. ARV on this sits near $106,000! So you could even parcel out the two properties and sell them if need be! But great rentals like this don't come around too often. Tough choices when making money!

Highlights:

• $60,000 Purchase Price
• $1800/m Income Potential
• 27% Cap Rate!

Call Now! - (515) 608-8811 Ext: 803

Repairs: The 5th unit has some fire damage and needs to be updated. The property also need some siding replaced and light cosmetic work. We even had an inspector go through the property, and you can take a look at the report if interested. Overall we're estimating the repairs to around $20,000 to get this rent ready.

Income vs Expenses:

Four of the five units are already being rented out. The fifth unit has some fire damage in the kitchen and needs the repairs. But the unit will rent for at least $400/m to $450/m after it's rent ready. Even in it's current state, with no other work done this property is already pulling in monthly cashflow. So if the only thing you do is buy this property....you'll make money. Check out our breakdown below with 4 Unit (As-Is), and with 5 Units to include repair costs:

4 Units	5 Units
Investment Amount:	$60,000	$80,000
Gross rental per month:	$1400	$1800
Expenses:
Loan repayment	$250	$250
Property taxes	$108	$108
Insurance (estimate)	$140	$140
Utilities	$217	$217
Lawn Care (estimate)	$100	$100
Property management	$150	$175
Regular Maintenance (estimate)	$150	$150
Net rental income:	$285	$660
12 Months net rental income:	$3,420	$7,920
Cap Rate:	28%	27%

Neighborhood: The Property two blocks away from Iowa Valley Community College and six blocks away from Grinnell College. It's also near great shopping and two parks.

Property Pictures:

Call Now! - (515) 608-8811 Ext: 803

Cash Buyers Don't Wait to Call! With a cap rate of 27% this property WILL be gone soon, so don't wait let's get this going! I look forward to selling you this property!

Thanks so much!