3 parcels in Northwest Davenport ready for development!
Buy and build on these lots! Zoned with the city for two 4 plex units, utilities are all ready to go, driveway installed and curb is cut. Property abuts an elementary school and other new multiplexes and houses surrounding. This area will only increase in demand with the new Sterilite plant being built a short distance away. See the projected financials below and click here for more details and pictures:
| Monthly Totals | |
| Rent | $7,200.00 |
| Units | 8 |
| Gross Rents | $7,200.00 |
| Taxes | $250.00 |
| Insurance | $200.00 |
| Water/Sewer | $0.00 |
| Gas | $0.00 |
| Electric | $0.00 |
| Cap Ex (5%) | $360.00 |
| Mgmt (8%) | $576.00 |
| Maintenence (5%) | $360.00 |
| Vacancy (5%) | $360.00 |
| NOI | $5,094.00 |
| Annualized | $61,128.00 |
| Purchase Price | $40,000.00 |
| Build Expense | $560,000.00 |
| Total Cash Invested | $600,000.00 |
| CCR % (just cash) | 10.19% |
Offering