The 37 year tenant (#14)

The 37 year tenant (#14)

2015-06-10 10.50.04

 

Features

  • Duplex
  • ~2000 Square feet
  • 2 bed 1 bath per side
  • MLS listed

Financials

  • $52,500 purchase price
  • ~$0 rehab cost
  • $615 monthly NOI
  • 14.35% ROI
  • $60,000ARV ($7,250 in net equity after rehab)

Investment diary

This is one of the few potentially ‘hands off’ deals we’ve had. A traditionally listed MLS duplex, no distress, just owners tired of managing a rental property.

There appears to be no rehab needed. The noteworthy thing about this rental is that one tenant has been in the duplex for over 37 years! Pretty amazing, we will be the seventh landlord she’s had since she’s lived there. We plan on being the last since this seems to be a great money maker.