All Forum Posts by: Garry Hervey

This property has been sold.

sent to your email

 sent to your email

Here is a link to the video files. I made the smaller so they should load quicker now.

https://drive.google.com/open?id=1SD0O4-s-lT-HxONZ2J_4lLdGNUWdfjf_

 Rick, what is your email? I will send it to you directly. The video file is a larger file.

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].