Great Little Rental w/Financing
513-207-9846 Text or Call
Let’s talk price right up front. We’re selling for $12,900 if you just pay cash. If you need or just want financing, we’ll consider that but it gonna be a least a couple of grand down at a slightly higher price and at 12% interest over a 5 year amortization. Not a balloon, you completely pay it off in 60 months like a car.
That said, lets move on to the deal itself. This is a 2 bedroom, one bath single family in Lower Price Hill/South Fairmount. It’s not a particularly densely populated or heavily trafficked or even very scary area, just kinda run down.
This house has a long term lol tenant and her little old dog. She pays $550 a month is is probably going to stay forever.
The house needs some work right away. The roof is OLD. I mean seriously old. Watch the vid to see what I mean. So roof and gutters right away. Also, the bathroom floor needs to be replaced before this lol winds up in the basement.
Aside from that the house will eventually need a kitchen and bath update and a full patch, paint, floor sand-and-poly. That’s pretty much it. See, not so scary.
In the win column it has a brand new water heater and brand new 100 amp circuit breaker box.
Some really quick math (eek!)
Property generates $6,600 per year
$6,600 a year minus the tiny taxes and basic insurance plus a maintenance reserve leaves about about 5k
Your gonna pay $12,900 (for cash)
Roof, gutters, bath floor is gonna run…may 6 or 7 grand to hire it out to a pro
So you’re all in for around 20 grand. You keeping up? And you’re clearing about $5,000
Do I need to spell this out? 5,000 ÷ 20,000= a 25% cash on cash return.
/drops mic on stage/