*Property consists of 8 total, older than average concrete buildings, including 7 SFR rental homes and one 2 unit duplex on a 1.89 acre R2 zoned lot.
*Current Rents ; 255 Pastime 1/1 - $550 ; 257 $400 is 1/1 ; 259 - $375 is 1/1 ; 261 - $600 is 2/1; 263 - $600 is a 2/1 ; 267 - 3/2 w/carport converted additional Br will rent for $650 & is already leased out ; 269 - $600 is a 2/2 inc. carport converted to BR ; 271 - $600 is a 2/2 inc. carport converted to BR ; 299 - Is a 3/2 at $600/mo.
All tenants but one are on month to month leases.
Income (Gross Rent) - $4,975/mo. x 12 = $59,700/yr.
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255 Pastime - Vacant was $450 for 15 years renter just left, will be $550 by 8/1
257 - $400/mo.
259 - $375/mo. (renter been in it 15+ yrs. w/out rent increase)
261 - $600/mo.
263 - $600/mo. (on lease through 3/1/2020)
267 - $650/mo.
269 - $600/mo.
271 - $600/mo.
299 - $600/mo. (same renter 10+ yrs)
Expenses - $9,083.96/yr.
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Insurance - $3,357.38/yr.
Utilities - $1,452/yr. (Trash is $121/mo. x 12 = $1,452/yr. All are separately metered for water, electric and gas while all renters pay their own utilities.)
Tax - $3,914.58
Property Mgt. - $0 it is Self Managed
Maintenance- $360 - ? The owner says he only pays $40/yr. per unit, only, for changing cooler pads in the rented units and doesn't do or give them anything ever. When renters leave he upgrades with capital expenditure related items.
