This is a unique situation. The seller would like to discuss all creative options. The home is going to need substantial renovation. Property taxes 4%–6% Insurance 2%–4% Utilities (if owner-paid) 10%–15% Repairs & maintenance reserve 5%–10% Vacancy & credit loss 5%–10% Landscaping/pest control 1%–3% Capital reserves (future… Read More HVAC, roof, appliances, etc.) 5%–10% Total (self-managed) 25%–40% Gross Potential Income 5 bedrooms + studio = $6,500/month Annual = $78,000 Adjust for 90% occupancy Effective Gross Income = about $70,200/year Example expense budget (30%) Expenses ˜ $21,000/year Net Operating Income Approximately $49,000/year Using common investor cap rates: Cap Rate Value 10% $490,000 8% $612,000 A one-third interest before any minority discount would be approximately: $163,000 at a $490k valuation Read Less
Courtesy of Real Broker LLC, Joseph Modig, 702-343-7777.
Listing Snapshot
Days Online
1
Last Updated
Property Type
SingleFamilyResidence
Beds
5
Full Baths
2
Square Ft.
1,434
Lot Size
0.16 Acres
Year Built
1963
MLS Number
2791719
30 Days Snapshot Of 89102
$357k
-10%
(avg) sold price
20
-20%
homes sold
75
-8%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Surface Type: Paved
Building
Direction Faces: South, Other Structures: GuestHouse, Rooms Total: 1
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