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$149999 / 2br - 7000ft² - 6 Family- 6 Two br apts- 13.7% CAP- 50% Cash on cash (709 crane st - schenectady)

2BR 7000ft2 apartment available jul 17

6 two br apts - Tenant pays utilities
Located in schenectady
Easy rental area
call show contact info for info
Please dont waste my time if you have no money
I can hold some mortgage if needed

Price$ 149,999

view video of one of the apts
http://www.youtube.com/watch?v=ghOSra0JraQ

Total Income:
709 Crane ST
6 Units

Purchase cost res. $129,999 20.0% Down Payment
Seller's Concession 0.0% $0
Cash invested $26,000 $103,999 Mortgage Amount

Financing Amount $103,999 Rate 6.000%
Closing Costs 5.00% $6,500 Principal & Interest $624 x 12
Repairs after closing per unit $0 $0 Annual Payment $7,482
Units Repaired 0
Total Cost of Project 136,499
TOTAL CASH INVESTED 32,500

Annual operation exp. Rents
Real estate tax $7,500 Rent per unit $550 3,300
Repairs $5,000 # Units 6
Management 5.00% $1,782 Vacancy 5.00% 165
Miscellaneous $0 Non collection 5.00% 165
Insurance $1,500 garages $0 0
Utilities $500 Total Rent 2,970
Advertising $0 Annual Rents 35,640
Supplies $0
Garbage $675
Water&Sewer $750
Exp per unit $0 $0 Value at ROI of : 10.00% $179,330
Total operating exp. $17,707 Price Per UNIT $21,667
Expenses Per Unit $2,951
I. Gross operating income $35,640 Return On Investment W/O Appreciation
Minus: Operating expenses $17,707 Cash flow before any savings $14,176
NET OPERATING INCOME $17,933 Cash invested $110,499
Minus: annual debt service $7,482 Return On Investment 12.83%
CASH FLOW BEFORE TAX $10,451
II. Annual debt service $7,482 Net Operating Income $17,933
Minus: interest $6,205 Purchase Cost $129,999
PRINCIPAL REDUCTION $1,277 Capitalization rate 13.79%
III. Net operating income $17,933
Minus: interest $6,205 Cash Flow Before Tax $10,451
Minus: total depreciation $4,732 Cash Invested After Repairs $26,000
TAXABLE INCOME $6,996 Cash On cash 40.20%
Multiplied by tax bracket 35.00%
TAX SAVINGS 1ST YEAR $2,449 Cash flow after tax & prin. Reduct. & tax saved $14,176
Cash invested After Repairs $26,000
PURCHASE PRICE $129,999 Return On Investment 54.52%
CAP RATE 13.79%
Rent Amount $550 Rent Roll Muliple 3.65
Garage Amount $0 (Purchaseprice / Gross Operating Income)
Vacancy & Non Collection 10.00%

  • do NOT contact me with unsolicited services or offers

post id: 4573255900

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