This property was purchased for $90,000 in November 2021. It was a converted to three bedroom from a two bedroom by adding a bedroom in the basement. The original rehab was $14,725 for grand total of $104,725.
The property was originally leased for the January 2022 for $1200 a month. that tenant stayed for 24 months unfortunately the husband had a heart attack and they had to move out.
They just moved out and we had to add some more rehab to the property . And that amount was $2500. So the total amount invested in this property is $107,225.
The property was leased again in March 2024 for $1350 a month.
Over the time. Of the end of 2022 through 2024 the net amount deposited in this Client’s account is over $30,000.
The approximate value per the MLS is $180,000.
Let’s look at the approximate profit
$180,000 - $107,225 = $72,775.00 $72,775
Let's look at the current Results
$72,775 + $30,000 = $102,775.00 $102,775
That’s an approximate return of 32%.
Consider our way of real estate and call me (Brett) 216-703-5740 Key Realty and property management
Better Real-Estate exceptional results
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