Property Description:
**** Fantastic Investment Property Near Fountain Square Flip or Hold 16.17% CAP**** This property can be held for low acquisition costs and good return on money. Stable long term tenant that is on month to month and is looking to stay with a verbal agreement that rent can be increased. Build equity while cash flowing!! Wiring has been upgraded along with breaker box 100 amp, newer furnace(10 yrs old max), upgraded water service line, new windows, sewer cleanout has been replaced. Needs some TLC for this to be a solid long term hold in an appreciating area. Fountain square is in immediate proximity
Underwriting Criteria:
Gross Rent- $7,200
Less Taxes -494
less insurance -500
less vacancy- 600
less reserves -600
less 10% Man Fee -720
NOI-$4,286