407 N. Green St. #A – occupied at $650/mo section 8.
Market rent $850 –
DO NOT DISTURB TENANT
407 N. Green St. #B – vacant.
Market rent $850
Can be viewed
New Roof installed in the last year
Kitchen and baths updated in last 5 years
New AC on both units
1 month old water heater both units
New decks both units
New fence both units
Market rent is $800-850+ and the vacant unit can rent for that at its current state
There is a tenant on one side who is on HUD she has been there for 3 years and has been a good tenant so seller never raised the rent on her she is currently paying 650 per month she has 9 months left on the lease.
There is opportunity to bring this rent up to HUD’s maximum rent for a new buyer
Once both units are at 850/mo, this duplex can yield a 15-20%+ cash on cash return (depending on your financing terms)
Even at $650 for unit A and $850 for unit B, cash on cash return is at 15%+