Buy ONE OR ALL!!!This is great addition to any portfolio, collect rent day 1, no rehab, no downtime & no finding tenants. Priceless!
The units are managed well and all rented out with leases, total income $7,630.00 a MONTH!
Two duplex's (8bd/4ba) at 5230 NW 24 Place and 5235 NW 25 Ave, Miami FL 33142 (current monthly rent is $1950.00 and $1,530 respectively) taxes ($3,655.00 yr)
One 4/2 house, sqft 1262, taxes 1862.00, 16341 NW 18 Ave, Miami Fl. 33142 (rent is currently $1,300.00 today and March 1st goes to $1,500.00)
Four Apartments, sqft 2500, ( 2/2 and two studios & 2/1 cottage) at 5706 SW 27 St West Park, FL 33023 (Monthly rent is $2,850.00)
It always make sense for the new or experienced landlord to buy below market prices and collect Positive cashflow!!!
Rent total is $93,960.00 a year Gross, total taxes are $9405.00 a year. The net after only taxes is $84,555.00.
The cap rate that considers only taxes only as an expense is 12.52% fully rented out with no rehab needed!!
The rents for the most are market except the Miami duplex at $1,530 could be raised $400.00 total.
A true cap rate takes into consideration all expenses so please do your homework on the other expenses..