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Old 08-25-2006, 09:42 PM
joiness19
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Default 4 plex with $240.00 cashflow

4 plex for sale in Desirable upper middle class area.
Price: $93,500
Value approx.: $110,000
Address: 424 Patrick St
Eden, NC 27288

2 currently rented (Long term tenant) currently paying $275.00 and $300.00

3 Upper Units are 1 bed / 1bath

Units can rent up to 325 each. For 1 bedroom units

Lower Unit is a Studio / will rent for approx. $295

All have a living room and Kitchen.

no immediate repairs needed. 1 bedroom units could use some modern updating to increase rents to $400 - $415 per unit and increase value of property, however tenants have no complaints about anything and it is in rental condition. Lower unit was just remodeled throughout.

Investment Rental Property Financial Information

Address: 424 Patrick St. Eden, NC

Purchase Price: $93,500

Percent Down: .20%

Down Payment Amount: $ 18,700

Amount Financed: $74,800.00

Interest Rate: 8. 5%


Monthly

Monthly Mortgage Payment: $548.86
Rental Income:

Unit A $300.00

Unit B $300.00

Unit C $300.00

Unit D $295.00

Cash Flow Analysis Monthly

Revenue From Rental: $1,195.00
Expenses: $ 406.16
Mortagage Payment: $ 548.86

Net Cash Flow: $ 239.99

Financing is Available
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