Updated over 7 years ago on .
Cash flowing recently updated turn key rental
Pics: https://www.dropbox.com/sh/pjanirtwpw6dp8z/AAAmmg0Kiu26CiOuABu7-DH7a?dl=0
1519 College St, South Bend, IN 46628Price: $65,000
Appraised value: $70,000 - available for review upon request
Rented until 4/2019: $850 per month, tenant pays all utilities.
2017 Annual Property taxes: $639.64
Annual Insurance: $434
Cap Rate: $850 x 12 = $10,200 - $1,073.64 (taxes & Ins) = $9,126.36 - $2,040 (10% prop management, 5% vacancy, 5% repairs) = $7,086.36/$65,000 = 11% cap rate
Renovated March 2018: painted interior and exterior, finished basement with bar, new ceiling fans placed in upstairs bedrooms and living room, new stove and vent hood in kitchen, updated bathroom vanity and fixtures, egress windows installed in basement, new water heater, roof re-shingled, plumbing and electric brought up to code, and yard landscaped.