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)