This property is no longer available! Sold.
This property is available now! It is fully turnkey, meaning completely rehabbed with tenants and property management in place. The turnkey supplier has an excellent reputation (ask Jay Dao from the Testimonials!)
Location: Indianapolis, IN. Single-Family Home. Built In: 1998
Purchase price: $110,000 (not a foreclosure, normal sale)
Property info: 3 bedroom, 2 bathroom, 1410 square feet
Monthly rent collected: $1100
Property taxes: $80
Property management fees: $110
Monthly expenses (conservatively estimated)
Vacancy (7%): $77
Repairs (5%): $55
Total Monthly Expenses- $367
Net Income = Income – Expenses = $733 ($865 with no vacancy or repairs)
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 8.0%
Cash-on-cash return =
Depends on your leveraging.
Are you thinking the cap rate is lower than what you are interested in? Check out one of Ali’s articles from BiggerPockets that hits this exact topic!