2341 W 9th St, Anderson IN 46016

3 bed/1 bath, 1082 sq ft / 2-car garage

 

About the project

An excellent BRRRR opportunity. 2341 W 9th St is a 3 bedroom home and has updated electrical (2017) , a newer air conditioner unit, a newer gas stove. The roof was new in 2012. It has a two car garage with a concrete floor and drain. The home has two bedrooms downstairs and a bedroom upstairs. It sits on a 5,327 sq.ft. lot and was built in 1959.

Price:                              $50,000

Renovation:                  $30,000

Total All In:    $80,000

Rent:                                $950/mo

Property Mgmt (10%):   $95

Insurance:                       $55

Taxes:                               $75

Maintenance (5%):         $48

Vacancy (7%):                 $66

Total Expenses:              $339

NOI per month:              $611

Cap Rate:                         9.17%

GRM:                                 7.02

Comps*:                           $95,000

* Comps are NOT a guarantee, but an estimation of after repair value (ARV)