Updated over 7 years ago on . Most recent reply
North Carolina funding needed
Need financing for a property in North Carolina $160,000
Investment property consists of 4 one bedroom and 1 two bedroom apartments, month to month leases have been consistently fully occupied for years with average rent of $436 monthly
Financial Summary (Pro forma - 2017)
| Annual | Annual Per SF | |
|---|---|---|
| Gross Rental Income | $30,000 | 9.97 |
| Other Income | $0 | 0.00 |
| Vacancy Loss | $1,500 | 0.50 |
| Effective Gross Income | $28,500 | 9.47 |
| Taxes | $844 | 0.28 |
| Operating Expenses | $4,611 | 1.53 |
| Total Expenses | $5,455 | 1.81 |
| Net Operating Income | $23,045 | 7.66 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | Sq. Ft. |
|---|---|---|---|
| 3+1 | 1 | $750.00 | 950 |
| 2+1 | 1 | $650.00 | 850 |
| 1+1 | 2 | $550.00 | 604 |
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