This property is occupied and cash flowing! This property is rented to a Section 8 tenant, and the monthly rent is $1,400. The lease is set to auto-renew on 4/30/2018.
Check out this newly rehabbed home in an up and coming neighborhood! New construction all around. A big family will surely enjoy the stylish new kitchen with separate eating area, full finished basement, lots of bedrooms and two fresh bathrooms. Basement could be set up for related living space.
Here is the Scope of Work Performed on this property:
- Brand New Roof
- Replaced hand rails on exterior
- Replaced broken windows
- Painted exterior siding, trim, and steps
- New window screens
- Replaced damaged gutters and downspouts
- Replaced missing chain link fence and gates
- New front and rear exterior doors
- Repaired all drywall
- Painted three tone paint throughout, ceilings, walls, trim and doors
- New doors where needed
- Replaced all light fixtures throughout
- Replaced all air vents throughout
- Replaced all bathroom vanities, toilets, faucets, sinks
- Replaced fan in bathroom
- New kitchen countertops and kitchen sink and faucet
- Repaired kitchen cabinets
- Repaired kitchen floor where needed
- Sanded and varnished hardwood floor throughout
- Removed all drywall in basement and replaced with new drywall throughout
- Removed old dirty carpet in basement and painted basement floor
- New bathroom vanity and toilet in basement bathroom
- Replaced bathroom faucet and sink in basement bathroom
- New furnace and hot water heater
- Installed dehumidifier in basement to control humidity levels in basement
*All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.
*Stated returns and cash flow do not take into account vacancy and repairs that will happen over time.
All properties are free and clear of all encumbrances (such as known claims, court-attachments, adverse claims, disputed ownership, liens, nonpayment of a note secured by the property, pending judgments) and, therefore, has a clear and marketable title. All properties will be closed out with a Warranty Deed at a reputable title company or closing attorney. Property taxes, property fees, and rent will be prorated to the buyer based on the purchase date of the property and the county specific proration procedures to which the property belongs.
Property taxes and other related bills, utilities, and fees associated with the property that are due after the purchase date of the property will be the responsibility of the buyer. Descriptions are purely visual. All information derived from third party sources, including but not limited to property assessments, appraisals, and title reports, if any, is deemed reliable but not guaranteed. All buyers are deemed to have relied entirely on their own information, judgements and inspections of property in making their decision to purchase the property. Pictures of the property contained herein may not be completely current and may not accurately reflect the condition of the property at any future date. Buyer should determine the condition of the property by physical inspection prior to purchase.
Buyer acknowledges and verifies that Buyer has carried out the necessary due diligence to purchase the property. For a complete statement of the terms and conditions of any purchase of the property, please review a copy of our standard Real Estate Purchase Contract.