Jun
23
A great money maker in the North Side! Only $15,900 with a 25% cap rate!
By1225 Woodland Avenue, Pittsburgh, PA 15212
Sorry. This property has sold.
This property will make huge cash flow – $700+ per month! Watch the video and view the photos here….
- 4 bedrooms, (possible 5th bedroom on first floor) and 1 1/2 baths
- Plaster walls are in good shape
- Kitchen and baths are in good condition
- The property is in livable condition but could use some cosmetics
- Includes appliances – 2 refrigerators, stove, dishwasher, washer and dryer
- Private fenced back yard includes a shed
- Estimated market rent $700 +
- Estimated after repair value $40,000 to $45,000
- Work needed but not limited to: paint, carpeting, roof will need replaced in the near future but no evidence of leaks, drywall on 2 walls in 3rd floor bedroom and add heat source to one bedroom
- Yearly taxes around $1500 per year
- Amazing 25.6% cap rate! Based on a 5 % vacancy rate, rental income at $725, also includes a calculation for closing costs ($800), $8,000 in initial repairs, $600 for yearly maintenance
