This property was purchased for $62,500 in Aug 2019. The rehab on this property was approx $20,000. The owner resold the property in July 2021. There was no rehab on that purchase.
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The property was leased in Nov 2019 for $1150 a month the lease is currently $1500 a month.
Let's look at the income for this property (Actual bank deposit in the owners account)
2019 $ 1,082
2020 $ 8,684
2021 $ 5,238
2022 $ 8,043
2023 $ 5,735 (replaced tenant)
2024 $10,801
2025 $ 5,609
Total: $45,192 deposited in owner bank account
Let's look at the Approx Value $190,000
The overall approx return so far
$190,000 (approx worth) - $25,000 (value add) - $82,500 (cost of home) + $45,192 (net proceeds for rent) = $127,692
26% return on this property so far!
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Contact Brett Young (216) 703-5740 Key Realty and Property Management
Mega Million Dollar Producer and Award Winning Realtor 1200+ Properties and counting
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0 Comments
Thank you