Brand New Renovated Property, 15% CAP, $1,400 Rent, Only $75K

[Erik Raz]

Newly renovated property in downtown Trenton NJ area few blocks away from government buildings. Great opportunity for investors. Renovations were done 5 months ago. The property has new floors, windows, doors, water tank, furnace, appliances, new kitchen, bathroom and so on... The property is occupied with tenant paying $1,400 rent. What I like about this property is the high rent and such a low price making it a great investment for someone not wanting to pay crazy NY and NJ prices for a house. Management for this property is taken care of if the buyer wants to have management if not buyer can save $1,600 extra every year.

Financials and Pictures below.

Price: $70,000

Annual Rent: $1,400 x 12 = $16,800

Annual Expenses: $2,842 (taxes) + $600 (insurance) + $1680 (management fee) = $5,122

Annual Income: $16,800 - $5,122 = $11,678/year or $973/month