Cash cow duplex in upcoming area, in Indianapolis, 72K, 18% cap!
I've owned this duplex for over 15 years. The vinyl windows and furnace are about 3 years old. It's in a very stable area close to downtown, the university and amenities. The 409 side is rented through 08/19 to a very reliable tenant, paying $325 bi-weekly = $704/mo., $8045./yr. It's totally updated with ceramic through the kitchen & bath, which was done in the past couple years, along with new cabinets, counters, shower, vanity, etc. There are washer/dryer hookups in each unit, in the kitchen area.
Had a tenant move from the other side, 411, which is vacant. She was paying $315 bi-weekly. Similar layout, rent ready, although the kitchen and bath amenities are older. Rent could certainly be higher with some updates there.
No garage, but plenty of parking in back of the home. This area is seeing lots of rejuvenation -- the duplex would be a great buy and hold. Feel free to call, text or email me for more info, thanks! Barb Getty