Flint MI property for sale - 9k pp, 23% cap rate.

[Alison Ostendorf]

Address:

150 Edmund St, Flint MI 48505

I am the owner.

Purchase price: 9k

2 bed 1 bath

lot size: 4680

finished square feet: 1632

Rehab: between 10 and 11k, already set up by property management team. They estimated a week to do the repairs when I called them.

My comp software estimates ARV to be 25k. I can show you this paperwork if you like.

Estimated rent roll: $416/month. I was estimate higher at $450/month.

Annual taxes:$307.89

No HOA or anything like that.

It is next to a church so the property has been relatively watched over by them, compared to other properties in the area. They were mowing the lawn for a while.

Single family

built 1929.

Management team would take 10% of each collected rent.

Annual income: 4,684.11

Cap rate: 23%