Charming 2/1 in Springfield, MO

[John Ching]

Charming little rock house in Springfield, MO. Close to retail and restaurants. Great investment property or even first-time home buyer.  Lot of potential as the lot size is 9,900' sqft.

Last tenant just moved out and was paying $400/month. Cap rate right around 14%-16% on this one. Add some paint, carpet and you are good to go.

By the numbers:

Rent ($395/month x 12)  $4,740/year

Property tax (2016 est.)  $338/year

Insurance (est)             $300/year

HOA 0

Property Mgmt             0

Vacancy (10%)             $474

Maintenance (10%)      $474

Mortgage Payment      0             

Total Annual Expenses: $1,586

Net Annual Income = $3,154

Cap rate: 15.9%

Call John @ (417) 501-4388.