Sold $480,000 - Duplex
Property is in move-in condition, and the rehab was done pretty well.
Here is a classic example of a property that works and that you can actually get! It’s in Frogtown which, if you didn’t know, is pretty hot right now, with many quality rehabs being done there.
Property is in move-in condition, and the rehab was done pretty well. You should be able to get $2200/mo rent in the larger unit and $1800 in the smaller unit. It even has a bonus structure which could be rented as a studio. Plus it has plenty of parking, as well as washer/dryer hookup for each unit. At these rents that means: $480K, with you putting 25% down, you will have a ‘cash on cash return’ of 11% in an upside neighborhood. That even accounts for your closing costs as well as some minor (say $10-15K) upgrades/repairs.
Let me know if you want help with this.
