7.0% return (Day 1), 13.9% return (Year 1): Bristol, CT 4-unit

[Joseph Salzillo]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $310,000
Cash invested: $77,000

Added another 4-unit rental property to my portfolio! Day 1 current rents are $3,600/mo with room to bring close to market at $4,200/mo Year 1 changing the deal from a 7.0% return to 13.9% return. A few capital repairs considered with this purchase are replacing a portion of the roof with significant moss growth, cutting the tree limbs over the property, replacing the flashing/crown on the chimney, and replacing 3 out of 4 water heaters.