All Forum Posts by: Todd Keith

For less than the price of most Single-Family Homes, you can have 2 income-producing units!

This great little duplex in Northwest Akron is now available to purchase with Traditional or Owner-Financing.

This is a Class B property in a Class B area. Property is one block away from City bus line. Starbucks, grocery stores, and a pharmacy are all within walking distance of this property. 

Price: $115K

Address: 75 Greencrest Terrace, Akron Ohio 44313 (Click Here For Map)

Units: 2

Unit Mix: 2 - 2 Bedroom / 1 Bath Units

Current (below market) Rents: Currently vacant, but recently rented out at $670

Market Rent: $682/Month per unit

Square Footage: 1,792

Annual Tax: $2,784
Occupancy: 0% (But Property Management Company is already interviewing tenants)
Year Built: 1956
Utilities: Owner Pays Water, Tenants Pay Electric (Separately Metered)
Management: Local Property Management in place and will manage for next owner.

Financing

• Cash
• Traditional financing accepted.
• Owner financing also available.

Owner Financing Terms:

• Purchase Price: $115k
• Down Payment: 20%
• Interest: 6%
• Balloon: 48 Months
• Monthly Payment: $468.29
• Payoff At End of Balloon: $81,762

Cash Flow Analysis on Owner Financed Deal Comparable sales shown below:

Rental Comps

Deferred Maintenance

May need a new roof in the near future. (No leaks) Windows are original. Hot Water Heater Ages: 1 year old and 20 years old. Furnace Ages: 1 is 4 years old and the other is the original that came with the house. Both units have stoves, but need refrigerators. (But still working)

Background

Owner remodeled bottom unit over the last three months. Top unit received a standard rental make-ready update. (e.g., New paint, new doors, hardwood floor finish)

Area

Property is one block away from City bus line. Starbucks, grocery stores, and a pharmacy are all within walking distance of this property. Stable Class B area. For more information, please email or call: 

[email protected] 

214.395.0804

2 Unit Duplex

For less than the price of most Single-Family Homes, you can have 2 income-producing units!

PRICED TO MOVE QUICKLY: $29,000

2 Unit Duplex - For less than the price of most Single-Family Homes, you can have4 income-producing units!

4 Unit Fourplex - For less than the price of most Single-Family Homes, you can have4 income-producing units! 

Hi @Fatima Champagne, What market are you buying in? Thanks, Todd

5 Unit Apartment Building - For less than the price of most Single-Family Homes, you can have5 income-producing units!

2 Unit Duplex

For less than the price of most Single-Family Homes, you can have 2 income-producing units!

PRICED TO MOVE QUICKLY: $29,000

5 Unit Apartment Building - For less than the price of most Single-Family Homes, you can have 5 income-producing units! 

Hi BiggerPockets, 

I'm looking for a Tax Advisor who is familiar with Real Estate Investing and the Profit First System. 

Please let me know if you know anyone like that. 

Thanks!

Todd

2 Unit Duplex

For less than the price of most Single-Family Homes, you can have 2 income-producing units!

PRICED TO MOVE QUICKLY: $29,000"