$139,900

3 bed, 2 bath ·  1261 sqft ·  BUILT 1904 


REFERRAL PROGRAM

Refer someone to Turnkey Iowa. If this leads to a sale, you receive $500 for the first property. Any subsequent properties, you receive $250.

SOLD

This property has been remarkably transformed. It has a great layout, and is a rare find with two bathrooms, one downstairs and one upstairs. We were able to change it from a two bedroom to a three bedroom which is beneficial to many renters.

The house sits on a fantastic double lot, which is completely fenced in. As you can see from the photos and 3D view, this property is surrounded by several upscale, new construction homes. It’s located in a 3.5 star neighborhood and will appreciate well due to location and the surrounding area.

The kitchen and bathrooms have been updated and new flooring placed throughout. Be sure to check out the before and after pictures!

Below is a list of the major renovation items:

  • Paneling removed and sheetrock added

  • Vinyl plank flooring and carpet on stairs and upstairs hallway

  • Created 3rd bedroom

  • Removed drop ceiling tiles and retextured ceiling

  • Updated light fixtures, outlets, vents

  • New appliances

  • Moved W/D hookups upstairs

  • Basement cellar access closed off and wall added

  • Paint throughout

  • Some exterior fascia and siding work where needed

As with all of our Turnkey properties, we have eliminated much of the deferred maintenance, leaving a high projected monthly cash flow.


MARKEt RENT

$1,295

Cap Rate

6.1%

neighborhood

3.5 Star


CASH PURCHASE

annual profit

$12,675

ANNUAL Rate of return

8.9%


FINANCED PURCHASE

ANNUAL profit

$9,158

ANNUAL Rate of return

30.7%