Property Description:
This property is a great fit for an investor who either wants:
1) a cosmetic rental rehab
2) a property that is already cash flowing or
3) won't be able to start rehab right away.
The property is currently rented for $800/mo with a paying tenant on an M2M lease
Rents in the area should bring $1100 for this property AS-IS, with rents as high as $1500 if this property is updated.
The property already has some upgrades
I. Electrical appears to be upgraded / 200 amps, and the
II. The kitchen was replaced less than 10 years ago- cabinets are good quality and still in good condition, with laminate countertops and porcelain tile- you don't need to update it.
III. Roof replaced 3 years ago
IV. Furnace in good condition (gas heat)
ASKING PRICE: $62,000
AVR: $89,800