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Seven Reasons Why the Housing Market STILL Hasn’t Recovered From the Pandemic
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Within 10 minutes of 1 University (5 min to Gonzaga University) and two colleges.
Triplex - 2 bed/ 1 bath units Built in 1961 About 700 sq ft per unit
3 garages
Taxes - $2,026 per year
Owner pays W/S/G - about $250 per month
Separate meters - tenants pay all other utilities
Property in pretty good shape - Could use some new windows and some minor landscaping. A bit dated but will rent with no problem.
Two units currently rented (tenant just moved out) for a total of $1,363 a month.
All units will rent for $800 per month (one is rented for $800 and one was rented for $750. The third unit is on Housing and is only paying $563 a month. Lease should be up in October.)
Should be generating $2,400 a month in rents.
ARV - $225K+! (It may be higher)
Purchase price - $185K
Terms - Cash
No owner financing
ROI - 22% conservatively! That includes down payment, 5.7% interest rate, $10K for some upgrades and some closing costs.
Cash flow will be $950+ a month!
For more information please call Rebecca Jensen 801-865-4167
