This property was purchased 4 years ago and has been leased for $1050 a month for 40+ months with the same tenant . The lease did go up during the tenants stay. Steady income in an appreciating area.
Let's fast forward to October and this property has rents that are lifted $300 a month or $3600 a year. We leased this property for $1350 a month in 18 days....Great location creates great results.
Lets look at the approx numbers
Rent $1350 Tax $182 Insurance $60 PM $125 Net $983 or $11,796 a year
This property also has built equity as we leased it is approx $85,000 that is a 59% increase in equity from the purchase price.
Everything under one roof works for my investors. I partner up with Avalon Group Realty to do all the property management Call Lori 440-695-3379
Need Real Estate Call me (Brett) 216-703-5740 Fathom Realty or Whatsapp me at the same Number
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Thank you