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Sweet Duplex NE Progresso!! Reduced $30,000!!!



$269,900

SOLD

1301 - 1303 NE 3rd Ave

Fort Lauderdale, FL

  • This is a rare find, 14.9. Cap rate, in NE Fort Lauderdale, NE Duplex 3/2 each side.
  • The units rent at $3,600. to $4000 total per month. That is $48,000.00 a year Gross.
  • The expense are taxes $2,936.00 and insurance $1,690.00. Take out $3,000.00 for maintenance and other. The net should be 40,374.00!!!
  • The average duplex square footage is only 1,550 square feet while this one is over 2,300.
  • Comps link copy and paste: http://matrix.southfloridamls.com/Matrix/Public/Portal.aspx?ID=1006898457#1
  • The Closed Comps in the area sell at a median price of 211.75 per square foot...Subject is 2340 sqft = $495,495
  • The Active comps in the area sell at a median price of 231/46 per square foot...Subject is 2340 sqft. = $541,616
  • The closed comps are most important but you should also look at what else is available because your future buyers will look at what's available!
  • The subject is being sold at 60 cents on the dollar using closed comps and 55 cents on the dollar for active comps, see comps link above!!
  • This duplex is remodeled, vacant and needs minor TLC, roof repair estimate is at $4,500. That's the major repair of this property.
  • Collect rent right away! There is no long down time.
  • Down time can cost you, taxes, insurance, mtg. payment, 3 months vacancy, rehab money, stress and your marriage.
  • If you don't buy this, have your accountant buy it. He understands great numbers.

Documents

 
No Documents for this Property


  • Sale Comps $370K - $380K
  • Rental Comps $3,900 - $4,200
  • Property Type Residential
  • Location Fort Lauderdale, FL
  • Size 2320 sq. ft.
  • Bedrooms 6
  • Bathrooms 4
  • TAV 176K
  • Annual Taxes $3,881
  • Year Built 1984

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