Updated over 7 years ago on . Most recent reply
Brick Double in Garfield Heights. 12% CoC. Same owner for 50yrs
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Here is a great income opportunity. All brick 2 family home with 2 bedrooms and 1 bath per unit. The house has been owned by the same family for over 50 years and has been well cared for. Both units feature hardwood floors in the living room, dining room, and bedrooms. Both bathrooms have been recently updated. Recently replaced roof with 30 year shingles, newly upgraded electrical service for both units, Separate utilities for each unit that also include separate heating and cooling and separate washer and dryer hook-ups in the basement. 2 car detached garage with a nice landscaped yard. The house is Garfield Hts. Point of Sale compliant.
Assuming 4.5% interest, 30 year mortgage & a 25% down payment.
- Down payment $ 24,750.00
- Up Front costs $ 1,000.00
- Estimated Yearly Rents $ 15,600.00
- Estimated Yearly Expenses $ 7,800.00
- Yearly Debt service $ 4,514.57
- Net cash flow after expenses & debt service $3,285.43
CASH ON CASH RETURN 12.8 %
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