I have this Property Under Contract.
This is a Rooming House with 12 Bedrooms and 1 apartment in Fond du lac WI.
Features:
- 12 Rooms Individually Rented out.
- 1 2 bedroom apartment
- Current Rents = $5860/month
- 1 Gas Meter
- 1 Boiler (only 5 years old) and one Furnace ( 2 years old)
- 1 Electric Meter
- Upgraded Electric Panel
- 1 Large Parking Lot
- Equipped with Cameras
- Coin Operated Washer and Dryer
- Has on on site MGR(5 yrs) that helps with people, building, rent and problems.
Numbers: PMT=1862/m 15% down 25 yr am 7.5% interest 1000 ins 2500 taxes
Mortgage line incluses Taxes and Insurance - But Run your Own numbers.
97 Forest Ave - | ||
Current | Projected | |
Apt 1 - | 900 | 900 |
Room 1 | 420 | 465 |
Room 2 | 440 | 465 |
Room 3 | 440 | 465 |
Room 4 | 440 | 465 |
Room 5 | 400 | 465 |
Room 6 | 400 | 465 |
Room 7 | 400 | 465 |
Room 8 | 400 | 465 |
Room 9 | 380 | 465 |
room 10 | 400 | 465 |
Room 11 | 400 | 465 |
Room 12 | 440 | 465 |
Net Income | 5860 | 6480 |
Expenses | ||
Mortgage | 1862 | 1892 |
Utilities(water) | 300 | 300 |
elec & gas | 696 | 696 |
Vac 8% | 468 | 468 |
Repairs 8%=$400 | ||
Insurance | ||
Taxes | ||
Total Expenses | 3326 | 3356 |
Net Income | 2534 | 3124 |
Cash and Hard Money Loans Will be looked at First.
Commercial Loan Acceptable. No Residential Financing Loans.
All Offers Will be As-Is.
Must Provide Pre-Approval Letter and Proof of Funds No Exceptions.
No - Walk Throughs.
WHAT TO EXPECT FROM Brendan Piper: PROPERTY WILL BE CONVEYED WITH FREE AND CLEAR MARKETABLE TITLE UNLESS OTHERWISE AGREED. NO INSPECTION PERIODS EXCEPT WHAT IS NOTED ABOVE.
BUYER MUST DO THEIR OWN DUE DILIGENCE. HOUSE IS BEING SOLD " AS-IS" WITH NO WARRANTIES OR DISCLOSURES FROM THE SELLER.
BUYER TO PAY ALL CLOSING COSTS AND TRANSFER TAXES WITH THE EXCEPTION OF ANY PRORATED PROPERTY TAXES, LIENS, AND JUDGMENTS UNLESS OTHERWISE AGREED TO IN WRITING BY BOTH PARTIES.
THE INFORMATION IS PROVIDED AS A COURTESY AND NOT MEANT FOR THE PURPOSES OF MARKETING THIS HOME DISCLAIMER: Please be advised that this is an assignment of contract. A legally binding purchase agreement has been signed with the Seller, which grants exclusive rights to this company to purchase the property.
We would like to clarify that we are not representatives of the owner and do not act as brokers.
DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or communicate with the owner will result in legal action.
Exterior Video
Upstairs Video Hallway
Shared Bathroom Video
2 Bedroom Apartment Video
Basement Video
Lower Hallway Video and shared bathroom
Bedrooms | |
Bathrooms | |
Sq. footage |