Buy this property as an owner occupant, using the rental income to pay your mortgage with possible positive cash flow. Here's how As-is Purchase price is $165,000 Renovate Duplex $35,000 Total Cost $200,000. After renovation occupy the second floor 3 bedroom apartment. A monthly payment on a 4% 30 year $200,000 fixed mortgage is approximately $955 Real Estate tax monthly payment is approximately $635 Total Monthly cost $1,580. The office/warehouse rental income is $700 the two bedroom first floor apartment rental income is $1,000, Total Monthly Income $1,700 Total Positive Cashlow $120.00 per month Or BUY THIS PROPERTY AS AN INVESTOR AND Rent the second floor 3 bedroom apartment for a total annual income of $37,200 Producing a Capitalization Rate of 18.6%.
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Listing information last updated on August 25th, 2019 at 6:15pm EDT.