McKeesport Cheap’n Ready Rental!
Long-term tenants on annual lease. They pay $350/month + all utilities. Surely it’s low but it still holds a cap rate over 13.48% today & that’s assuming you’ll actually put $1k into annual repairs.
Property always maintained via a long-term landlord-tenant relationship.
- wiring (every millimeter is brand new)
- gas line
- copper water service line
- plastic plumbing inside & out
- kitchen faucet
…everything is in good shape mechanically & internally except the exterior… you will see it is pretty rough! (Nice back deck, though!)
approx. 2 years-old:
- hot water tank
Nice & private without neighbors. AnD Property will be sitting proudly in a sea of woodlands soon enough since the house next door seems it’s going to be torn-down!
We all know the comps obviously are not going to be a shiny selling point, but you will certainly be able to sell it for more than you paid for it 👍 !
Tenants are fine as the property sits so just scoop it up & collect some monthly $$!
Down the road if you update it: $775 market, over $1k sec.8 if LL pays all utilities.
[if you want a similarly sized/priced/located property that’s vacant, here is my other: 2610]
**taxes are $440.28/year!!
- Taxes: $440
- Electric: Brand new
- Plumbing: Updated
- Kitchen: Needs updating
- Bath: Needs updating
- Roof: 12-14 yrs old
- Furnace: 2 yrs old
- Hot Water Tank: 2 yrs old
- Windows: Mixed
- Floors: 2
- Parking: On-street; PLENTY
- Rental Income: $350/mo+all utilities