We paid $85,000 for this property in Aug 2021 We had $16,500 in rehab for a total of $101,500 Let's look at the Lease numbers it was leased in Oct 2021 for $1150 A month Let's look at the Approx numbers..This property has had only 1 tenant ever Think about the rehab money this client has saved! No move outs creates more income and less rehab. Lease $1150 Tax $170 Insurance $60 P/M $92 net $828 x 15 Months = $12,420 The lease was increased to $1200 in Feb 2023 Let's look at those Approx Numbers Lease $1200 Tax $207 Insurance $60 P/M $98 Net $835 X 15 Months $12,525 We increased the lease again in June 2024 to $1300 a month Let's look at those approx numbers Lease $1300 Tax $207 Insurance $60 P/M $98 Net $935 X 3 Months $2,805 We have had about $500 in repairs during this tenants stay Total net Rent Received $27,250 This property is worth $175,000 Better Real Estate Exceptional results Call me (Brett) 216-703-5740 Key Realty and Property Management
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