Cheap Tenanted Rental in FW
This is a nice little 3/1 984 sqft framer near 180/820 in eastern FW. It is in great shape, and is fully tenanted through the end of the year! The bad news is that the current rent is only $500/mo, but the good news is that the market rents are closer to $800-975/mo, easily, so this should make for a great cash flow deal!
-- Seller is willing to provide a credit to buyer to help compensate for the low rent that the tenant is currently paying --
Price: $62,000--the difference in current rent vs. market rent is ~$400/mo, so I got a $2K reduction to compensate!
Rehab: $4,000 (only for tenant turnover, some minor foundation, but it is in great shape!)
ARV: $70,000
Rent: $500/mo through 12/17, $800/mo market rate easily, but I think it will get $900-975 as there is simply nothing else under $1000/mo around there.
Pics: https://www.dropbox.com/sh/rul4dghhoskr8je/AACjI3G_lvHTlu4Zyahs9Z3ga?dl=0