Legal Duplex (current use SFR 10 Tenant Boarding Home)

[Shawn Ackerman]

Legal 2 Family(Public Record), Current Use single family boarding house with 10 tenants.  

4 Tenants Pay $550 P/M - Double Room

6 Tenants pay $650 P/M - Single Room

Past 3 month bank statements available for qualified buyers

CONTACT: [email protected]

PHONE: 516-992-6401

Grand Avenue Deal, Brentwood NY     Purchase Price $350,000

25% Down payment = 87,500              30yr Am @ 4.75%

Income = 6,200 per month                   Annual Income = $74,400

PROPERTY EXPENSES

Water - $100 Per Month                      Annual Water = $1,200

Gas = $200 per month                        Annual Gas = $2,400

Electric= Tenant

Landscaping/snow removal = Tenant

Taxes $691.00                                    Annual Tax = $8,300

Insur $150                                           Annual Ins = $1,800

P/M $250  Flat Rate                             Annual P/M = $3,000

Cap Ex= $4968%                               Annual Cap X = $ 5,952

Maint = $310     5%                            Annual Maint = $3,720

Vacancy = 310   5%                           Annual Vac = $3,720

Cable = $164                                      Annual Cable = $1,968

Net Operating Income

Monthly Income = $3,229 Annual NOI = 38,748

Cap Rate = 11%

Cash On Cash Return = 44%

Debt Service = $1,120                     Annual Debt Service = $13,440

Cash Flow After Debt Service and All Expenses = $2,109        Per Month

Cash Flow After Debt Service and All Expenses = $25,308      Annually

** Property needs 7K of non immediate maintenance **