Description

Welcome to this well-maintained four-sided brick duplex, where each 1680 sqft unit has 3 spacious bedrooms and 1.5-bathroom - each designed for comfort and convenience. Over $30,000 in renovations/upgrades in 2021 Inside, each unit features a cozy family room with a fireplace, a functional kitchen with stainless steel appliances and generous cabinetry, and a dedicated laundry room. Bedrooms are carpeted and offer abundant natural light. Outside, the fenced backyard provides a private space to relax or entertain and a covered porch. The area is also seeing rapid growth, with 5,600 new jobs coming to major employers like Rivian, Archer Aviation, and Meta - all within a 10-minute drive. Plus, with average rents for 3-bedroom rentals in the area currently around $1500.00, there’s clear potential for future rent increases. Whether you're seeking rental income or a multi-generational living solution, this property offers the ideal combination of versatility, value, and steady returns.Unit A rents for $1160/month and Unit B for $1,602/month, generating a total monthly income of $2,762, or $33,144 annually. With estimated annual expenses at 10% of gross income ($3,314.40), this property delivers a solid Net Operating Income of $29,830 and a cap rate of approximately of 8.0%. Assuming a 20% down payment and a 30-year fixed mortgage at a 6% interest rate, annual debt service is estimated at $21,480 This results in an estimated pre-tax cash flow of approximately $596/month or $8.350/year in the first year - making this duplex a compelling option for investors seeking steady returns. MARKET RENT POTENTIAL: Average rents for 3-bedroom rentals in this area are currently around $1,500/month. At that rate, total monthly income would increase to $3,000, or $36,000 annually. With the same 10% expense ratio, operating expenses would be approximately $3,600, resulting in a Net Operating Income (NOI) of $32,400. This would raise the cap rate to 8.70%. With a $385,00 purchase price, a 20% down payment, and an estimated annual debt service of $21,480 projected cash flow would increase to $10,920/year - delivering an improved cash-on-cash return of 14.7%. . ***No showings until due diligence period. Please do not disturb tenants.*