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$180,000

For Sale - Active
211 Madison Ave NE, Piedmont, OK 73078
3 Beds
2.0 Baths
0 Square Feet
0.30 Acres Lot
Built in 1964
For Sale - Active
Units n/a
Checked: 24 hours ago
Updated: Apr 24, 2025 at 02:39AM

Investment Summary


Monthly Cash Flow
-$17
Cap Rate
5.6%
Cash-on-Cash Return
-0.5%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.5%

Property Description


0.30 Acres Lot
Built in 1964
For Sale - Active
Units n/a

Nice property near downtown Piedmont. The home is being remodeled. There are several storage building on the property. The 40x40 shop next door also has a carport on the back. The home was rented for $1200/mo., with the front portion of the lots, and the shop for $1500/mo. in the past. The owner is currently storing his personal property in all the outdoor buildings. There are two homes next door available for purchase with this property as MLS #1153284. 201 and 205 Madison Ave NE for a great rental portfolio!

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Location


Property Details


Parking

  • Description: SeeRemarks
  • Details: See Remarks
  • Garage Spaces: 8
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Metal

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 090037406
  • Lot Size: 13199 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Bungalow
  • Year Built: 1964

Tax Information

  • Annual Tax: $747

Utilities

  • Heating: Other
  • Cooling: Window Unit(s)

Location

  • County: Canadian

Listing Details


Listed by:
Lyndle Smith Sr.
Metro Connect Real Estate
(405) 248-5626

Source:
MLSOK
MLS#: 1153309

Investment Summary


Monthly Cash Flow
-$17
Cap Rate
5.6%
Cash-on-Cash Return
-0.5%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.5%

Purchase Details

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Purchase price:
$180,000
Amount financed:
-$144,000
Down payment:
$36,000
Closing costs:
$5,400
Rehab costs:
$0
Initial cash invested:
$41,400
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$144,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principle & interest:
$852
Property tax:
$62
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,005

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$62-$747
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (0%)
0%$0$0
Total operating expenses: (30%)
30%-$387-$4,647

Cash Flow


Monthly Yearly
Net operating income:
$835 $10,020
Mortgage payments:
-$852 -$10,224
Cash flow:
$17 $204