Off Market Rent or Flip in Covington, KY

[Eric Sztanyo]

Package deal potential. 2 homes under contract within a few blocks in Covington, KY. Both are occupied for instant cash flow with room to raise rents. 

Get more details and see other home at http://www.sztanyoandsons.com/property/ or call Eric at (859) 412-1940.

Flip or rental opportunity in Covington, KY, just across the river from Cincinnati, OH.  Beautiful, spacious home with soaring ceilings and original woodwork. In good condition. Lots of square footage at 2,511. Two extra rooms on 3rd floor (each have closets).

Currently rented with a HUD tenant at $725 / month. Lease is through next September. So, you can have instant cash flow. However, tenant has also expressed that she would move (does not need Holy Cross school district any more). If so, there is plenty of room to raise the rent. Rentometer has 3 bedrooms in the area at $850 median rent.

ARV = $120,000

ESTIMATED REHAB: $20,000

RECENT COMPS:

210 E 15th St,
5 beds 2 baths 2,907 sqft
$130,000, sold 09/07/17

1419 Scott St
3/2 2,034 sq ft
$117,000, sold 02/16/17
Plenty of upgrades made by existing landlord.

Exterior needs new siding. A stucco is partially applied currently over brick shingle on front and side. Staircase to 3rd floor is covered as owner wanted extra protection for children. Used to be a 2 family, but converted to single family. Has separate 2nd floor entrance.

This Northern Kentucky property is under contract, and I am selling my interest in the contract to an assignee.

Details at http://www.sztanyoandsons.com/property/ or

Call Eric if interested at (859) 412-1940.