Property Location: 1692 E Kossuth St, Columbus, OH 43206
Description: Great Condition! 3 bed, 1 bath home in great condition. Property rents at $750 per month. Property has fresh wood flooring in the living room and tile in the kitchen. Repairs include carpet replacement or cleaning in the bedrooms and replace a 10X10 square of aluminum siding and window trim from the recent wind storm. Property has detached garage. Appraised value is 60K.
Cash Purchase Analysis
Acquisition Cost = $28,000
Rehab Cost = $1,800 (Carpet and Aluminum Siding Repair, and labor)
Closing Cost @ 3% = $840
Total Purchase Cost = $30,640 (30K Equity)
Cap Rate Analysis
Gross Income @ $750.00 per month rent = $9,000
Expenses – $1063 (Tax) – ($400) Insurance
NOI = $7537
$30,640 (Purchase Cost)
Annualized Return = 25%
@10% Vacancy Rate = 22%
Pays for itself in 4 years!
Terms: Cash, Hard money, Line of Credit
Viewing Instructions: Drive by; Call to view
Important = 28K is net to seller
2nd Bedroom (Just painted a neutral color) New pic coming soon!
Basement with Drywall walls
Front of House
Front of House and Detached Garage
Missing 10X10 Square of Siding and Trim