$97,000
229 N 16th St, , Richmond, IN 47374
Current Rent **
$1,425
Projected Rent **
$2,936
Unit 1 Details
- Current Rent: $450
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
Unit 2 Details
- Current Rent: $475
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
Unit 3 Details
- Current Rent: $500
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
Unit 4 Details
- Current Rent:
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 1536 sqft
- Occupied: No
- Needs Repairs: No
- Off MLS: Yes
๐ (๐ฅ๐ถ๐ฐ๐ต๐บ๐ผ๐ป๐ฑ, ๐๐ก) ๐ค๐๐ฎ๐ฑ๐ฝ๐น๐ฒ๐ | ๐ณ๐ฑ% ๐ข๐ฐ๐ฐ๐๐ฝ๐ถ๐ฒ๐ฑ | ๐ง๐ฒ๐ป๐ฎ๐ป๐๐ ๐ฃ๐ฎ๐ ๐จ๐๐ถ๐น๐ถ๐๐ถ๐ฒ๐ ๐๐ ๐ฐ๐ฒ๐ฝ๐ ๐ช๐ฎ๐๐ฒ๐ฟ
Great Opportunity to Buy and Hold!
229 N 16th St, Richmond, IN, 47374
4 UNIT PROPERTY in Richmond, Indiana
ARV: $197K (ARV determined by multiplying average multifamily price per square foot ($64.33) by 3,072 sqft)
Actual Rent: $1,425/month
Potential Rent: $2,936/month
Unit Mix: Four 2BR/1 Bath Unitโ
Occupancy: 75% Occupied
Taxes: $1,998
Insurance: $1,000
Utilities: Tenants pay for all utilities except water.
Building Square Footage: 1,536 Sq Ft
Lot Size: 6,534 Sq Ft
Year Built: 1920
229 N 16th St, Richmond, IN, 47374.jpg
Great Opportunity to Buy and Hold!
229 N 16th St, Richmond, IN, 47374
4 UNIT PROPERTY
Richmond, Indiana
CLICK HERE FOR VIDEO WALKTHROUGH
PRICE: $97,000
โ
ARV: $197K (ARV determined by multiplying average multifamily price per square foot ($64.33) by 3,072 sqft)
โ
Actual Rent: $1,425/month
Potential Rent: $2,936/month
DETAILS
Unit Mix: Four 2BR/1 Bath Unitโ
Occupancy: 75% Occupied
Taxes: $1,998
Insurance: $1,000
Utilities: Tenants pay for all utilities except water.
Building Square Footage: 1,536 Sq Ft
Lot Size: 6,534 Sq Ft
Year Built: 1920
TEXTING IS THE FASTEST WAY TO GET A HOLD OF US!
If you have any questions about this property, please contact:
Primary Contact: Larry Keith (463) 240-1822
FSVPROPERTIES.COM
PROPERTY PHOTOS
You can see inside this property now. Click the image below to the current condition of each units, exterior, and basement.
229 N 16th St, Richmond, IN, 47374.jpg
Click Here to View Rent Comps and Executive Summary
Address: 229 N 16th St, Richmond, IN, 47374
Units: 4
Current Rents: $450-$500/Unit. One unit is vacant.
229 N 16th St_unitmix.png
Market Rents: $734/Unit
Management: Currently self-managed, but excellent local property management company ready to step in and manage this one for the next owner.
Pro Forma CAP Rate: 26.24% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)
Due Diligence: While we do our best to get all the relevant information to you, buyers are encouraged to do their own due diligence. (See Important Disclosures Below)
Location:
229 N 16th St, , Richmond, IN 47374
Report Abuse
* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
Only paying BiggerPockets members can do this!
Upgrade your account to a Pro membership to finish uploading your listing.
Pro Marketplace Benefits
- List up to 2 properties a day under Real Estate Listing
- Re-port your Real Estate Listing every 5 days
- Create job & buying ads in the Marketplace
Additional Pro Benefits
- Unlimited use & access to Rental Property Calculator
- Over $5,000 worth of discounts in Pro Perks
- Access to 50 states & DC landlord forms
- Forum Keyword Alerts
- And more!