Single Family Home 1788 sf; 3 Bedrooms and 2 Baths; Refrigerator, Dishwasher, Range and Microwave Included. Has Carport and Large Fenced Back Yard. Currently rented out for $900.00 per month with rents average rent about $1,000.00 in the area. Has an ARV of $120,000.
Needs some minor repairs and updating. Roof took some minor damage in hurricane Florence and will need repair or replaced. I have roughly estimated about $15,000 total updating and repairs including new roof. Below is a rental property calculation I did using the bigger pockets calculator.
$900.00 Monthly Income
$634.85 Monthly Expenses
$265.15 Monthly Cashflow
6.33% Pro Forma Cap
$32,700.00 Total Cash Needed
9.73% Cash on Cash ROI
7.8% Cap Rate
7.78 gross rent multiplier
Hi Douglas, Can you send me the rent rolls if any as well as any maintenance that has been handled before and after the hurricane? Do you have pictures of inside and outside?
Hi Josh, working on getting that info for you. Might be a couple days as the owner is out of state right now. In the meanwhile here are some photos (little unflattering as tenants had just moved in when I snapped the photos) that I can't get to flip right side up! Do you have a personal e-mail I can send photos to\? I can send you about 20 photos of inside and out. Regards, Doug
Hey @Douglas Middleton , I’d be interested to learn more about this property.
HI Brian, my apologies. I missed your message until today. Somehow I miss my BP messages very easily! Do you have a number I can reach you at and I would be happy to call you so we can discuss the details. Or, please feel free to call me at 951-505-9848. Just leave a VM if I don't answer and I will call you back very shortly.
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