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$355,000

For Sale - Active
10 Karen Cir Apt 24, Billerica, MA 01821
2 Beds
1 Bath
741 Square Feet
0.00 Acres Lot
Built in 1979
For Sale - Active
132 Units
Checked: 9 hours ago
Updated: Sep 12, 2025 at 02:55AM

Investment Summary


Monthly Cash Flow
-$662
Cap Rate
3.4%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.4%

Property Description


0.00 Acres Lot
Built in 1979
For Sale - Active
132 Units

Welcome to 2 Karen #17 located in the Highly desirable Mitchell Estates. This beautiful 2 bed 1 bath features a large living room with vinyl plank floors which opens to a large deck. Kitchen features, gas stove, dishwasher, disposal, microwave and refrigerator. Both bedrooms have vinyl plank floors and offer ample closet space. There is extra storage in the form of a storage unit located in the attic of the building. One deed parking spot also runs with the unit. The condo is conveniently located minutes from Rt3 and 495 offering an easy commute. This condo is perfect for an investor looking for cash flowing asset or someone looking for a their first home. The condo is currently leased until 9/1/2025 at $2400, and will be delivered vacant.

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Location


Property Details


Parking

  • Description: Off Street, Assigned, Guest, Paved
  • Details: Deeded
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement: Yes

Exterior Features

  • Exterior Walls Materials: Brick
  • Roof Type: Hip

HOA

  • Has HOA: Yes
  • HOA Fee: $401/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: BILLM:0061B:0147L:524
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1979

Tax Information

  • Annual Tax: $3,663

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Wall Unit(s)

Location

  • County: Middlesex

Investment Summary


Monthly Cash Flow
-$662
Cap Rate
3.4%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.4%

Purchase Details

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Purchase price:
$355,000
Amount financed:
-$284,000
Down payment:
$71,000
Closing costs:
$10,650
Rehab costs:
$0
Initial cash invested:
$81,650
Square feet:
741
Cost per square foot:
$479
Monthly rent per square foot:
$3.37

Financing Details

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Loan amount:
$284,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,680
Property tax:
$305
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,160

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$305-$3,663
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (16%)
16%-$402-$4,824
Total operating expenses: (53%)
53%-$1,332-$15,987

Cash Flow


Monthly Yearly
Net operating income:
$1,018 $12,216
Mortgage payments:
-$1,680 -$20,160
Cash flow:
-$662 -$7,944