- 2800+ Square foot duplex
- 4 bed + 4 bed units with large 3 car detached garage.
- Traditional MLS purchase from investor
- $39,000 purchase price
- <$1,500 rehab cost
- $820 monthly NOI
- 23.79% ROI
- $50,000ARV (~$11,000 in net equity after rehab)
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This duplex has been one of the best money makers of 2014. In fact it brought in about 20% of company revenue. It was purchased with tenants in both units and both tenants have continued to live in the house. Unfortunately this property has had low maintenance done to it since purchase, however we do plan on a <$3,000 capital expense during the summer of 2015 to update some needed features with the house and some minor roof work.
Unlike most properties we’ve had, we have had some ongoing maintenance on this property. Alternatively with the ones we fully rehab there is very little ongoing maintenance due to the level of work we invest in them.