Description
Turnkey rental with property management in-place and rents of $2,000/month*. This cashflowing rental has excellent tenants that pay like clockwork. Current rents are $1,450/month and once the current lease expires in March 2025, this massive 5-bedroom house will command rents of $2,000+ with Section 8. **Central A/C** Current owner purchased this in 2020 when the house next door was vacant and ugly...so it was ineligible for Section 8 rents. Now the adjacent house has been fully renovated and sold for $195k in early 2024...so this house is now eligible for Section 8. *Seller will add $550/month on top of the tenant's $1,450 payments through the end of March 2025, when it can be re-leased with Section 8. Seller will provide property management for **1 Year** after closing at no cost. Rent roll, lease, lead-free cert, and bank records of tenant payments are available for review. Rental Comps: ** 756 Dolphin St rented for $2,100 on 7/15/23 ** 2406 Presbury St is only a 4-bedroom and rented for $1,950 on 7/20/24. SOLD COMPS ***1426 N Fulton Ave SOLD $195,000 on 1/16/24.
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5BEDS
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0.03ACRES
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2BATHS
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01/2 BATHS
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1,418SQFT
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$116$/SQFT
Description
Turnkey rental with property management in-place and rents of $2,000/month*. This cashflowing rental has excellent tenants that pay like clockwork. Current rents are $1,450/month and once the current lease expires in March 2025, this massive 5-bedroom house will command rents of $2,000+ with Section 8. **Central A/C** Current owner purchased this in 2020 when the house next door was vacant and ugly...so it was ineligible for Section 8 rents. Now the adjacent house has been fully renovated and sold for $195k in early 2024...so this house is now eligible for Section 8. *Seller will add $550/month on top of the tenant's $1,450 payments through the end of March 2025, when it can be re-leased with Section 8. Seller will provide property management for **1 Year** after closing at no cost. Rent roll, lease, lead-free cert, and bank records of tenant payments are available for review. Rental Comps: ** 756 Dolphin St rented for $2,100 on 7/15/23 ** 2406 Presbury St is only a 4-bedroom and rented for $1,950 on 7/20/24. SOLD COMPS ***1426 N Fulton Ave SOLD $195,000 on 1/16/24.
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