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This property was 1st leased in May 2019 for $1250 a month and purchased on March 19th 2019 for $62,000
The first tenant stayed for Approx 50 months. Let's look at the Approx numbers. The lease amount was raised during that time so I will do the Approx Average.
Approx Lease $1350 Tax $161 Insurance $60 P/M $125 Net $1,004 x 50 Months= $50,200
The next Tenant moved in November 2023 for $1400 a Month and tenant stayed 7 months. Let's look at the Approx Numbers on this tenant.
Lease $1400 Tax $152 Insurance $60 P/M $125 Net $1063 x 7 months = $7,441
The deposit covered the clean up needed to get another tenant quickly and the new lease amount is $1500 a month.
New Rent Approx
Lease $1500 Tax $152 Insurance $60 P/M $125 Net $1163
Approx total net proceeds collected $57,641
Approx Worth $170,000
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