Indianapolis Remodeled duplex with 2 new leases and 15 CAP

[Jack Gibson]

Newly rehabbed duplex, with 2 brand new tenants.  NEW Mechanicals on both sides, both water heaters and furnaces and all new duct work.  Vacancy expectations are very low, simple rent signs out front generated 30 calls in 5 days.   Roof is in very good shape, no replacement expected for 10 years +.  Professional PM in place with over 800 properties under management.  Take a look at the Before and After pics!   

https://www.dropbox.com/sh/xuphmrm6qo5tkgy/AACf04p...

Purchase:  $60,000

Rent:  $1100 mo. or $13,200

PM (10%): 1320

Insurance:  $800

Taxes:  700

Repairs/Maintenance:  0 1st year, Home Warranty covers all

Vacancy adjustment (10%): 1320

Total Expenses:  $4,140

Net Income:  $9060 or 15.1%