Low cost rental, already occupied! 50k equity in Cedar Rapids

Linn County, Cedar Rapids, IA, 52402
Sold
Listed at: February 13th, 2023
Price
$110,000
ARV
$160,000
Gross Margin
$50,000
Sq. Footage
1336
Type
Single-Family
Parking
Detached Garage
Year build
1925
Lot size
0.10 acres
Bedrooms
2
Bathrooms
2
Half Bathrooms
0
Summary

143 25Th Street Dr Se Cedar Rapids IA 52403


This 2 bed / 2 bath rental property in Cedar Rapids, IA makes sense for any landlord. Could use some cosmetic updates but the property has good bones.


Rental Profit Details:

$950 Current Rents ($1,350 Proforma)

(-) $206 monthly tax

(-) $50 monthly insurance

(-) $95 property management

(-) $95 allocation for repairs, vacancy, etc

(=) $504 net monthly cash flow


Tenant Information:

  • Tenant pays $950 per month (Market is $1,350)
  • Tenant's lease is month to month
  • Current on Payments


Property Details:

  • 2 Beds / 2 Bath
  • 1925 Year Build
  • 1,336 Home Square Feet
  • 4,356 Lot Square Feet
  • March 17th, 2023 Closing
  • Roof Replaced 2018
  • HVAC Replaced 2021
  • Furnace replaced 2021
  • Tenant Occupied at Close


Padua Partners Acquisitions assumes no liability for the accuracy of any estimates or information provided. End buyers must conduct own due diligence. The property is to be sold as-is. Proof of funds is required. Cash or hard money only. End buyer pays all closing costs and fees associated with this transaction. $5,000 Non-Refundable EMD needed to secure the contract.
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Samuel Wooten

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