Turn Key DUPLEX Dayton Sect 8 RENTED 2018 ROOF
Nice duplex with great curb appeal and in a great neighborhood of mostly home owners. This upper and lower unit has maintained much of the original charm with hardwood floors, decorative fireplace, high ceilings, original wood work and much more. All of the mechanical systems have been updated making the home more efficient. Nothing to do but collect rent on this one! Each unit is a 1 bedroom, 1 bath with private front and back entrances.
427 Kolping is fully subsidized. 100% of the tenant's rent is paid for by Miami Valley Housing Opportunities. Rent is $560/mo
429 Kolping is section 8. Rent is $600/mo
Lots of updates made to this duplex:
New Roof April 2018
New windows installed
New exterior stairwell built to the rear, upper unit
Pex plumbing installed
Electric was inspected
New, high efficient furnaces installed
One brand new hot water heater; the other is estimated at 5 years and in good condition
New flooring in the kitchens and baths
Everything freshly painted
Hardwood in living spaces
Washer and dryer provided for tenant's use and will be conveyed in the sale of the property, along with all kitchen appliances
Gross rental income is $1160/mo OR $13,920/yr
Taxes are $1202/yr
Insurance will cost approximately $720/yr ( we paid 820 but it is insured through usaa at a full replacement cost of 260k
Utilities will cost $1896/yr
Property Management is $1120/yr
NOI is $8882/yr
Asking $58,000 - sold another duplex around the block from this one for $72k
15.3% ROI!!!!
https://www.biggerpockets.com/calculators/shared/343265/eafd9d1b-e4ca-4979-8890-ff14975caf40
I actually am holding several other units and Dayton and will continue to have them all managed by the same manager that is managing this duplex, Reason for selling- I am looking to purchase some office space and will need capital out of Dayton to make this work.