Enormous cap rate in the Gateway SD. Rent for a good $975/unit. More if you make it fancy. Side-by-Side 3BRs/1BAs.
Looking at perhaps $20k/side to fix. Make your $ back in ≈3-4 years & collect >a $17k NOI.
Comparably sized Pitcairn duplexes sold recently for over $100k. CAP est. up to 35½% @all-in. Good flat lot & big units. Vacant corner lot on one side, set-back neighboring house to the other. For location perspective, it’s 1 turn off of Broadway Boulevard, ≈¾-mile from Sheetz.
- Drywall (via leaky roof)
- Updates throughout
- H2O tanks
- separate entrances + utilities
- big covered front porch
- attic space
- mostly fenced rear yard
- low taxes
- Taxes: $727
- Electric: Updated
- Plumbing: Functional; can afford updating
- Kitchen: (Both) Needs updating
- Bath: (Both) Needs updating
- Roof: Needs replacing
- Furnace: (Both) Gravity; needs replacing
- Hot Water Tank: (Both) Needs replacing
- Windows: Mixed
- (2) 3 BR / 1 BA
- Floors: 2
- Parking: Spaces on-street
- Rental Potential: $1,950/mo