$23,000 - Tenant of 14 Years!! - 17% ROI

[Jason Richardson]

Nice two-bedroom home on a friendly street that sits across from a large park. Monthly rent is $650 with Section 8 paying a portion. The tenant in the house has made this her home for 14 years now, and desires to eventually own it one day. This is a great hands-off or passive investment for any investor no matter how new or experienced you are. Newer roof. It will need a light rehab of around $3,000 to take care of some cosmetic issues, and to seal the basement. Tenants take excellent care of the property. 

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

12** Wilber Street, South Bend, IN 46628

Our Price - $23,000

Rehab Cost - $3,000

Total Monthly Income - $650

Yearly Income (Based on 1 month vacancy) - $7,150

Yearly Taxes - $1,215.26

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,560

Yearly NOI - $4,424.74

ROI/Cash On Cash - 17%

The last two digits of the addresses have been removed so that the tenants can continue to enjoy the right for peaceful and safe living. If you are serious about this property, and can prove that you are a legitimate buyer, then the rest will be given to you during your due diligence period.

Professional management and rehab services are available. Serious cash buyer inquiries only please. Email if interested.