N 10th St, St Joseph, MO 64501
Duplex: two 2bed/1bath units side-by-side, 2538 sq ft
About the project
An excellent BRRRR opportunity in a B-/C+ neighborhood. N 10th St in St Joseph is a side-by-side duplex property with two 2bd/1ba units of about 1270 sq ft each and off street parking. Each unit has the living room, dining room and kitchen on the main level, 2 beds and 1 bath on the upper level plus a full unfinished basement (utility room and extra storage). This property will allow the investor to enjoy 15% equity after rehab.
Price: $80,000
Renovation: $55,000
Total All In: $135,000
Rent: $1,400/mo
Property Mgmt (10%): $140
Insurance: $67
Taxes: $40
Maintenance (5%): $70
Vacancy (7%): $98
Total Expenses: $415
NOI per month: $985
Cap Rate: 8.76%
GRM: 8.04
Comps*: $160,000
* Comps are NOT a guarantee, but an estimation of after repair value (ARV)