*REDUCED* Great Toledo, OH rental...cash flow

[Jeremy Marshall]

Here is a potentially great rental.  And is only 2.6 miles from the University of Toledo!!

SFH 2bd/1ba all on one floor.

Rentometer shows that the rent should be $660/mo but for conservative numbers I used $625....which I do not think you will have any issues getting and quick.

Some positives:

- I just replaced the roof (in fact I will be finishing it this weekend, weather depending)

- Great neighbor.  They are the former owners and the husband is a Sheriff deputy and really looks after the house for me.  In fact his son mows the lawn for $10.  Really good family.

- A newer Trane furnace in great condition

- Vacant lot next door is under forfeited land and the city has it at $300!  Could give you a cheap double lot to better market the house.

- The one bathroom and kitchen are right next to you, so plumbing in very minimal and easy.

- Appliances stay

The house will need some work to get it rent ready.  For my conservative numbers I put $7500 in, which could do a lot in this small house.  Some work that needs to get done:

- new cabinets (two four foot sections)

- new flooring ( I tore the carpet out)

- Repair/replace some cracked windows

- some drywall ( roof had a bad leak and damaged a bedroom, leak is taken care hence the roof replacement.

- back deck is in back shape ( I would tear off and just put step out the back door)

- enclosed front porch is tacky (in my humble opinion)

- I would replaced the sink drains when you replace the sinks.  I took apart the kitchen drain as it was junk.

- run pex plumbing and have the plumbing check as I have checked it too much.

- int and ext paint

I have a good contractor that states that he can get the house rent ready, all of the above and then some) for $10,000 and be done in a couple weeks.  This was for higher end stuff when I was looking of flipping it.  To get it rent ready and looking nice I put $7500 and less time.

Email me if you need more info at [email protected]