$112,000
450 ½ 14th Street & 218 ½ 8th Street, Wellsville, OH 43968
Current Rent **
$1,625
Projected Rent **
$3,025
(𝗪𝗲𝗹𝗹𝘀𝘃𝗶𝗹𝗹𝗲, 𝗢𝗛) ✨𝗣𝗥𝗜𝗖𝗘 𝗗𝗥𝗢𝗣 ✨ 𝟮 𝗗𝘂𝗽𝗹𝗲𝘅 𝗣𝗮𝗰𝗸𝗮𝗴𝗲 ✨ 𝟳𝟱% 𝗢𝗰𝗰𝘂𝗽𝗶𝗲𝗱 | 𝗚𝗿𝗼𝘀𝘀 𝗥𝗲𝗻𝘁: $𝟭,𝟲𝟮𝟱
ARV: $171,864
REPAIRS: $5K (Basic Make-Ready)
Potential Rent: $3,025/month
DETAILS
Unit Mix:
Three 2 Bedroom/1 Bath Units and One 1 Bedroom/1 Bath Unit
Occupancy:
75% Occupied
1 Tenant just moved out.
Utilities
Tenants pay for all utilities.
Building Square Footage:
450 1⁄2 14th St - 1,848 sq ft
218 1⁄2 8th St - 944 sq f
Lot Size:
450 1⁄2 14th St - 3,920 sq ft
218 1⁄2 8th St - 1,306 sq ft
Year Built:
450 1⁄2 14th St - 1920
218 1⁄2 8th St - 1971
Units: 4 - Two Duplexes Property Package
Current Rents: $500-$575/Unit. One Unit is currently vacant.
Market Rents: $550-$825/Unit
Annual Tax: $692
Utilities: Tenants pay for all utilities.
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: 21.08% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)
Location:
450 ½ 14th Street & 218 ½ 8th Street, Wellsville, OH 43968
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* 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.
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