Updated over 7 years ago on .
Off market 4 plex in Clinton, IA - 16+% CCR
INVESTORS - If getting 16% (Cash on cash) with room for more on your investment sounds good to you, look no further. This is an off market 4 plex in a nice part of town with great tenants in place and the potential to raise rents. This building is fully rented, and no dire repairs are needed at this time. See financial breakdown below:
| Monthly Totals | |
| Rent | $1,800.00 |
| Units | 4 |
| Gross Rents | $1,800.00 |
| Taxes | $166.67 |
| Insurance | $100.00 |
| Water/Sewer | $150.00 |
| Gas | $30.00 |
| Electric | $30.00 |
| Cap Ex (5%) | $90.00 |
| Mgmt (8%) | $144.00 |
| Maintenence (5%) | $90.00 |
| Vacancy (5%) | $90.00 |
| NOI | $909.33 |
| Annualized | $10,911.96 |
| Purchase Price | $60,000.00 |
| Rehab Expense | $5,000.00 |
| Total Cash Invested | $65,000.00 |
| CCR % (just cash) | 16.79% |
| Appraised Value (est.) | $100,000.00 |
| Potential Leverage | $80,000.00 |
| After Refinance | $13,000.00 |
| Mortgage Debt | $3,947.73 |
| NOI After Debt | $6,964.23 |
| New CCR % (80% LTV) | 53.57% |
Reach out today to lock this deal up. We can also refer you to a reputable property manager!
Offering