2522 E 7th St, Anderson IN 46012

2 bed/1 bath, 672 sq ft / 1-car detached garage

 

About the project

An excellent BRRRR opportunity. 2522 E 7th St is a compact 2 bedroom home. This means low tenant turn costs while enjoying a strong Cap Rate. It has a one car detached garage with a concrete floor (729 sq ft). It sits on a 5,763 sq.ft. lot and was built in 1952. Home values in 46012 have increased 14.4 % (↑) over the past 12 months and are expected to increase 7.7% (↑) in the next year. At the post-rehab ARV, this property will allow the investor to enjoy 12% equity after rehab.

Price:                              $54,000

Renovation:                  $16,000

Total All In:    $70,000

Rent:                                $800/mo

Property Mgmt (10%):   $80

Insurance:                       $40

Taxes:                               $66

Maintenance (5%):         $40

Vacancy (7%):                 $56

Total Expenses:              $282

NOI per month:              $518

Cap Rate:                         8.9%

GRM:                                 7.29

Comps*:                           $79,500

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