SOLD – 8 bed 4 bath Duplex in Beech Grove, $1800 rent – Huge Discount Only $70K
$943/mo cash flow with 11.9% cap rate and equity with just a little work on this tremendous cash flow duplex in Beech Grove. Both units are 4 bed 2 baths with total rent of $1800. Both units were fully remodeled, right side simply needs work downstairs. Left side, new furnace, new ac, new appliances, tub surrounds, toilets, new sinks, very clean tenants rented for $900/mo. Right Side was fully remodeled and rented at $950 then had a kitchen fire. Upstairs is in great shape, downstairs needs to be finished. It has been tore out, treated and ready for drywall, kitchen, bath, flooring, misc. Approx 25K needed then will rent for $900 also. Equity standpoint – 4 bed duplexes are going around 120K with 1200-1300 rent. This one is 8 beds and 4 baths with 1800 rents so 95K in and worth 140-150K. Cash flow: Rent $1,800 Management $180 Maintenance $180 Vacancy $180 Tax $267 Insurance $50 Monthly Cashflow $943 Cap Rate 11.9%