10.95% CAP rate with Mo. Cashflow $774 and we manage it for you

[Clay Smith]

Sale Price: 105k Rent: 1150 = 10.95% CAP rate! Ranch style 1,122 sqft 3 Bedroom, 1 Bathroom brick single family home on a slab foundation built in 1953; which is normal age for Louisville market. New vinyl double hung Low-E and Argon with 10yr warranty windows. Furnace and AC replaced in 2015. Brick houses last longer than wood and no need to worry about termites. Also, slab foundations are solid and no need worry about moisture in crawl spaces. NOT in a floodplain either. New gas lines installed by licensed plumber. New interior and exterior paint; including back deck. Nice fenced in back yard to accommodate pets (for extra rent). Carpet is 3 years old. Parquet hardwood flooring underneath can be refinished later. Storage shed right outside the back door and a covered carport. Washer and dryer hookups. Kitchen appliances furnished (owned by owner), including dishwasher. Spacious family room/dining room area. Bathroom is dated, but all tile and working properly. Kitchen cabinets are older but unique and sturdy with cool sliding glass doors. We replaced hardware, countertops, sink, faucet and appliances. We tiles kitchen floor in 2014. We will continue to professionally manage for 7% fee and ½ of any fill, licensed and insured. Tenants is on a new 2 year lease expires in 35 months. We will add a roof at cost (done by our licensed contracting company) if you include cost in purchase price; estimate 2.5k. Roof is NOT failing and is near half life, it predates our date of purchase in 2014. it makes no since for us to replace, but if you wish to finance the costs it may make since to you.

• Annual Taxes Paid in November (2% discount) = $122.78
• Utilities $0, tenant pays all as usual and custom in Louisville, KY
• Insurance $68 using NREI Group, we can furnish proof on demand.
• Maintenance (10%) $105, although not sure what would be needed with so many updates
• Property Management (7%) is $81
• Monthly Cashflow $774 you can use to pay debt service after everything and including our management fee.

Zillow Page (click here)

WHY ARE WE SELLING? It is our business model to produce turn key rentals. While our property management is optional, we hope you will consider us.