$20,000 - Cute Bungalow In A Great Neighborhood - 19.4% ROI

[Jason Richardson]

We have a 3 Bed / 1 Bath Bungalow style house for sale in a quiet family friendly neighborhood. It is located on Vernon Street next to the newly constructed Lincoln Elementary School, as well as a playground, making it an ideal family location. The house does need some work, though it is a light cosmetic rehab. There is a full basement running the whole length of the house, and a 1 car detached garage. Property is currently vacant. We are asking $20,000 for this property, with an 19.4% ROI.

3 Bed / 1 Bath / 768 SqFt / 5280 SqFt Lot / Detached Garage / Built 1948

1827 S Vernon St, South Bend, IN 46613

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

Purchase Price - $20,000

Rehab Cost Estimation - $3,000

Monthly Income - $650

Yearly Income (Including 1mo Vacancy) - $7,150

Yearly Taxes - $653.36

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,430

Yearly NOI - $4466.64

All-In Cost - $23,000

ROI/Cash On Cash (Includes Rehab) - 19.4%

Professional management and rehab services are available. Serious cash buyer inquiries only please. Please visit our website address (below) for additional photos for this, and all our available properties.

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