Side-by-Side duplex in Springdale with est. 15.75% cap rate
**Prefacing note: It looks worse in the photos than it is; vacant unit is a mess at the moment yet it is being cleaned out!**
- Large 2-story units ~1,200 sqFt each
- Off-street parking
- Central heat
- 1 unit recently vacant
- 1 unit is a very long-term (27 years!) month-to-month great tenant at $735/mo. (obvs. much room for growth)
- Est. $42-46k to rent-ready status — looking at some repairs, updating windows, 1 kitchen, 1 bath, flooring/carpet, paint, etc. + a good handful of heavy cosmetics (personally scrutinized breakdown available)
- Market rent would then cap around 15¾%
- Tenants supply their own appliances!
Property Features & Updates
- Taxes: $2,167
- Electric: Updated
- Plumbing: Updated
- Kitchen:(1) Good; (1) Needs updating
- Bath: (1) Good; (1) Needs updating
- Roof: 10-15 yrs old
- Furnace: (2) Old/older
- Hot Water Tank: ≈3½ yrs old
- Windows: (≈20) Need replacing
- Rooms: (2) 2 BR / 1 BA
- Floors: 2
- Parking: Off-street (grassy parking slab)
- Rental Income: (1) Vacant; (1) $735/month (mo.-to-mo.)
- Rental Potential: $2,250 total ($1,125/unit)