$9,900 - Great Long Term Investment – 20.4% ROI

[Jason Richardson]

Additional photos can be viewed here:

1714 Obrien Photos

This is your chance to own the ugly house on the block, and with a little work restore it to the cash flow machine that it used to be. This house has great bones, with a newer roof and mechanicals, and plumbing and wiring intact. 3-4 bedrooms, detached garage, and on a quiet block. The house primarily needs cosmetic work, but will make a great rental for a family looking for a place to call home! The rehab cost will run between $8,000 and $10,000 depending on how extensive you would want it to be. The monthly rent amount would be $600-$650/month. This house would also be an ideal candidate for an investor looking to sell on land contract or lease option. 

Here are the numbers, as a cash-flow property:

 1714 O’Brien Street, South Bend, IN 46628

Our Price - $9,900

Rehab Cost - $8,000

Total Monthly Income - $600

Yearly Income (Based on 1 month vacancy) - $6,600

Yearly Taxes - $1,032.32

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,320

Yearly NOI - $3,647.68

ROI/Cash On Cash - 20.4%

Professional management is available. Serious cash buyer inquiries only please.

Email for more information.