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Condo for Sale, Durham, NC 27701 - $130,000

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Key information

• Bedrooms: 9
• Bathrooms: 4
Address
Durham, NC 27701
Date
July 19th, 2015 05:06 AM

The details

• Features:

About the property

7- unit complex, completely rented, ready to offer nice return on investment. This East Durham property is a simply, cinderblock structure that has had recent renovations done including flooring and paint. (4) one bedrooms and (3) two bedroom apartments. Baseboard heating All units have stove and refrigerator New flooring in kitchen and bathrooms Each unit has private back porch THE NUMBERS Leases are in place for all units with over $3100 in Gross Operating Income. Unit #1 $475 Unit #2 $450 Unit #3 $400 Unit #4 $500 Unit #5 $400 Unit #6 $450 Unit #7 $500 Total $3,175 monthly ($38,100 G.O.I) Gross Operating Income Expenses 10% Maintenance 10% Repairs 10% Management 15% Vacancy Total 45% expenses ($15,240) Taxes = $1809 Annually Insurance = $2500 (estimated) Annually N.O.I. is $22,860 (Net Operating Income) Capitalization Rate = N.O.I / Asking Price $22,860 - 1809(taxes) - 2500(insurance) / $130,000 True Capitalization Rate = 14% Asking $130k FIRM Provided by The Redd & Jarvis Group, Inc. Call, text, or email to schedule a viewing. (919) 627-1690 or email at: redd.jarvis@yahoo.com

Contact Information

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