Turnkey 8 cap was sitting on the market...

[Jake Andronico]

In Northern Nevada, this is not super common to have sitting on the market. 

Good deals typically go quickly, and the investors ready to pounce scoop them up.  

This property was walking distance to the University of Nevada, Reno (UNR). Very high demand for students who want to be super close to campus and/or may not have a vehicle. 

The numbers: 

DOM (Days on Market): 96 (then withdrawn) + 95 (came back on market) = 191 total. 

Original Listing Price: $700,000

PurchasePrice: $550,000 (eventually lowered to $550K)

Monthly Rent Potential: $4,200 ($700 per bedroom) - $50,400 annually

Approx. $45,000 (self-managing)

(If you'd like to see an in depth analysis including taxes, insurance, property management, vacancy, etc., PM me)

New owners currently have it listed for rent for $3,900. Since school has already begun at UNR, they're likely trying to lease it quickly at a bit of a discount. 

Curious to see what they're able to get next year. 

Deals are still out there!!

[Michael Smythe]

There are always deals for patient investors!