Does it capture the increased risk of heart attacks for men seeing bikini clad women all day everyday?
Not if they are mostly elderly retired women…
Jesus thanks for nothing for putting that image in my head!
Obama will come and get you, put you into the discrimination and sex inequality prison!
What about appliance repairs? Can’t you just repair everything? Buy a disassembled dishwasher and have the guy write “dishwasher parts” on it.
12.14% Cap Rate with Positive Cash Flow, Block construction 2 Duplexes on 1 parcel (4 Units total), 100% occupied, generating an annual gross income of $34,200 with room to increase rents. Expenses are $9,923 annually (includes 8% management fee, full breakdown upon request), net operating income is $24,276.74 which is a cap rate of 12.14%. All units have Central Air Conditioning and common area private fencing. West building has a new roof as of Summer '16.
Sold for $120k last July.
Put a new roof on one of the 2 buildings and list it for 219k.
Was pending. … 4 times?? Now 199k.
They are waiting for a California “investor”
Plenty of the same kool-aid in South Lake Tahoe…This one sold a year ago for $699k
Now pending at $1.079k ask…
Like I have been saying for four years, South Lake Tahoe has been a great buy…I know of another 7 unit…They paid $315k three years ago…Just turned down $675k at a 6 cap
How much does a new roof cost?
About 1000 sqft living space… $4k tops, especially in FL
Now 189K. It changed hand back in 2010, for 56K !
Looks like a scary neighborhood…bars on windows and chain link fencing is a no go for me…
The neighborhood is a total shithole…http://www.tampabay.com/news/publicsafety/crime/hundreds-rally-for-peace-in-sulphur-springs/2226098
High caps = high crimes in most cities. .Sure the rent return is high, but can you actually collect the rent…
Interesting. So that area is the East Oakland of Tampa. OK. Let me dial it down a bit and only look at the 9 cap houses.
Not a problem when there’s section 8.
12.55% cap rate in Phoenix. 6-Plex. Pending after 15 days.
The listing says
Week Available (Timeshare): 8.00
Leased Acres (Approximate): 6
Annual Electric Expense: $13,083.36
Annual Gas Expense: $2,310.19
Annual Insurance Expense: $3,847
Annual Management Expense: $14,880
Annual Water/Sewer Expense: $7,549.24
Operating Expense: $43,594.79
Gross Annual Scheduled Income: $111,322.67
Adjusted Gross Income: $111,322.67
Net Operating Income: $65,897.76
Cap Rate: 12.55
Tax Year: 2016
Nearest craigslist apartment rent for 2 bedroom is $1050
If we assume all 6 homes are rented at $1000/month, it comes to $6000/month=$72000/year. It does not tally the Gross Annual Scheduled Income: $111,322.67
I do not know what is the Leased Acres (Approximate): 6? what for high Operating Expense: $43,594.79?
Another listing in the Tampa area. This one in Sarasota.
Great Duplex Fully rented and rents guaranteed by HUD and deposited in your checking account each month. Provides a 11% cap rate on your investment. Newer roof & newer central air. New electrical panels, outlets and switches as well as fixtures several years ago. Updated kitchen with recent appliances and updated bathrooms. Near everything including restaurants, shopping, beaches, etc.
So tenants are Section 8? And is this tenants’ Mercedes?
Sounds like you have not much section 8 experience.
One of my Section 8 families owns:
- ML 350 (daughter)
- S600 (wife)
- Corvette (dad)
- Camry (for the trip to the section 8 office)
- small camper
- full size RV
- race boat
- 30’ boat
- and another Japanese car… Acura?
They look clean but are 4 to 10 years old. I only had an issue with them storing all that crap at my complex. Charged them $80 for the RV and told them to move the boats back to Discovery Bay.
I think this actually a better buy than what you posted last time. Of course subject to the issues of relying on a PM from far away.