This property was purchased off market. We had an original Tenant in there which we kept for one year after that we had to get a new Tenant in there for $1100 a month in August 2020
This property was purchased for $65,000 and we added $10,000 to it for rehab which came to a total of $75,000.
Let’s look at the approx income. These are the funds that we actually deposited in the owner’s account
2019 $ $7200
2020 $. $5100
2021 $ $7908
2022 $ 4303 (got behind on rent)
2023 $ 14,303 (got caught up on rent) raised rent to $1200 a month
2024 $. $8400
Total $48,560
This owner did not want us to raise rent because the tenant could not afford it. But they have been there since 2020. We did not have to do any work after the previous Tenant work moved out except just clean it up and get another Tenant.
This tenant has been there for going on five years and has been an excellent tenant
Let’s look at the approximate value on this one as of January 27, 2025 is right at $150,000.
$150,000 -$75,000 equals $75,000 in equity plus $48,560 is a approximate profit of $123,560.
That is an approximate return of 33% on their money
Better properties, exceptional results. We do it all with Management of every property we do.
Contact Brett 216-703-5740 Key Realty and Property Management
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