strong & tight brick duplex off main drag in the Gateway School District
Self-sustaining rental. All mechanicals new. Rock solid bones.
Separate side-by-side entrances with mini front porches to access two big up-down 2-BR units (each ~1,100 sqFt.).
Rear has a big bright red deck. Nice original hardwood inside.
Happy longtime tenants who care for the place as their own.
Don’t have to do a single thing to the property, essentially sit back & collect $1,000/month ‘til you feel like updating it (est. needs $15k to double the current rent / cap at ~18%).
–both units have looong-term tenants who pay utilities (minus H2O)
–*property has a lot of options to work with 👍
- All new/newer mechanicals; eg:
- 1 brand new boiler (other is 12 y/o yet pretty mint — prop owned by HVAC guy since ‘95)
- Newer hot water tanks (2-3 yrs. old)
- 4–year-old flat roof w/50-year guarantee
- Updated electric & plumbing
- Tenants who don’t bother or call for anything; one described as being “like the landlord’s mom”
- Month-to-month, both on time for decades (1 since 2000, 1 since 1992)
- A simple-to-maintain backyard, 10 min. max to weedwhack
- Proximities (Walkability Map in reel); A+ public trans
- Updates to the wet areas+ (was last updated ~1992!)
- Higher rents after updates
*will also want to check-out securing the small stretch of empty lots adj. to it, or at least try to buy the lot right next to it for more parking (there are five total subsequent empty lots to one side)
- Taxes: $1,220
- Electric: Updated
- Plumbing: Updated
- Kitchen: Needs updating (both)
- Bath: Needs updating (both)
- Roof: 4 yrs old; flat
- Furnace: Boilers: (1) 1 yr old; (1) 12 yrs old
- Hot Water Tank: (1) 2 yrs old; (1) 3 yrs old
- Windows: Double-paned (mostly)
- (2) 2 BR / 1 BA
- Floors: 2
- Parking: Marked; on-street (1)
- Rental Income: $1,000 total/mo + utilities [M2M]