This is a turn-key student rental property with strong positive cash flow. Using my sample pro-forma your positive cash flow will over $14,000/yr assuming an 80% mortgage at 8%. Cap rate of 13.0%. Text or email seller for the pro-forma.
The 2-family house on a quiet dead-end street is in excellent condition and needs no repairs or improvements. 4 BRs on the 1st floor ($2,420/mo) leased through May ' 25 and 4BRs on the 2nd floor ($1,770) leased through May of '24. The property was fully renovated in 2011. Includes all appliances (Fridges, ranges, DWs, Micros) with Washer/Dryer in the basement. Roof, boilers (2011), water heaters, electric, plumbing, & appliances are all in great shape and nothing is needed. All renovations and maintenance has been done to a very high level.
Date | Event | Price | $/Sqft | Source |
---|---|---|---|---|
Listed For Sale | $375,000 | $∞ | Housepad |
High School Albany High School | 0.5 miles away | 09 - 12 | |
Elementary School Brighter Choice Charter School For Boys | 0.5 miles away | KG - 04 | |
Elementary School Brighter Choice School For Girls | 0.5 miles away | KG - 04 |