Two 2 bed / 1 bath units, both rented on annual leases at $1,100/mo total (below market). Section 8 rent is $1,000 per unit, so there's $900/mo of upside.
Updates: furnaces 2024, water heaters 2023, roof approx. 8 years old, vinyl siding, glass block windows, security doors.
Numbers at $75K: 9.2% cap rate now, 20.6% at Section 8 rent.
Comps: nearby sales $140K to $153K.
Cash, hard money or financed buyers welcome.
Full pro forma available on request.
The Real Estate Doctor: 215-313-3322
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ARV $125,000
From the listing
The seller picked no comps. Investimate’s own value for this home is $117,000.
