$265,000

6 bed, 2 bath ·  2568 sqft ·  BUILT 1973


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.

This is a duplex with mirror image layouts and separate utilities. The property has been well taken care of, and only required a light rehab. One side is still occupied, and other than a new furnace, the rehab has not been completed. Once the current tenant moves out at the end of July, we will perform a similar rehab on that side.

Each side has a family room, kitchen, full bath and one bedroom on the main level. Each basement has two bedrooms with egress windows, a laundry room with washer/dryer hookups, and a common living space with the furnace and hot water heater, as well as additional storage. The hallway from each main level to the basement is shared by both units. It has locking doors at the top and bottom of each unit.

There is a shared, two car garage, and a large backyard with beautiful trees. This property is located in a desirable neighborhood and surrounded by nice properties with well-maintained yards.

Please click below to see the full list of rehab items and the summary of systems.


MARKEt RENT

$2,250

Cap Rate

5.5%

neighborhood

3 Star


CASH PURCHASE

annual profit

$22,402

ANNUAL Rate of return

8.4%


FINANCED PURCHASE

ANNUAL profit

$15,739

ANNUAL Rate of return

28.7%