When it comes to investing in turnkey properties, the lone star state is a real star – why? It has huge potential for tenants, great property managers, well-vetted vendors and a wealth of large companies, good school districts, colleges and hospitals (think: $$$$).
Believe it or not, this city in Texas is ranked as the 30th largest economy in the entire world….Enough said? Want more? Forbes recently ranked it as one of the country’s top ten up and coming tech cities: meaning jobs, jobs, and lots of tenants who want a house just like this one below. All signs point to – buy. Houston, I believe we have a lift-off!
LOCATION: Houston,TX (Baytown).
Built In: 1971 (fully redeveloped with tenants in place for you as a condition of closing!)
Purchase price: $135,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 3 bathrooms, 1,880 square feet and a 2 car garage!
Monthly rent collected: $1,350
Property taxes: $237
Home Owner’s Association: $25
Property management fees: $104
Monthly expenses (conservatively estimated)
Vacancy (7%): $95
Repairs (5%): $68
Total Monthly Expenses- $645
Net Income = Income – Expenses = $705!!!!
Cap Rate = 6.27
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 3 Month Property Maintenance Guarantee.
If you are interested in this property or seeing others like it, just contact Melissa at email@example.com. Take the plunge: you won’t regret it!