Updated almost 7 years ago on . Most recent reply
Cash Flow Properties with Extra Lot!
This property could be a cash cow rental unit. There is a Single Family home and small apartment building that sit on the same lot. The house will rent for $850 and the apartment for $700 which gives you $1550 cashflow.
Address - 1659 Steele St Jacksonville, FL 32209
Purchase Price: 30K
Est Rehab: 40K
House (Needs full rehab)
3 Bedrooms, 1 Bathrooms 1274 Sq. Ft Built 1942
Apartment (Needs full rehab)
2 Bedrooms, 1 Bathrooms. The apartment has a 1 car garage with a storage area under the apartment.
Pictures - https://drive.google.com/open?id=1UUhY5-HuAoTMV4DX78A4kEMrSLqTra_9
Numbers
Purchase Price= $30,000
Rehab (estimate)= $40,000
Total Investment Price= $70,000
Total Rent for House and Apartment (Annually) = $18,600
(3/1 House - $850 Monthly, 2/1 Apartment - $700 Monthly)
Annual Expenses
Property Taxes - $767.12
Insurance - $500
Annual Repairs - (1500 *.06) *12 = $1080
Vacancy - (1500*.1)*12 =$1800
Property Management - (1500*.1)*12 =$1800
Total Annual Expenses - $6647.12
(Revenue - $18,600) - (Expenses - $6,647.12)
Annual Profit- $11,952.88
(Profit $11,952.88)/(Total Investment $70,000) =ROI Annually 17%
For more info please contact me at 904-452-7828 or [email protected].