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This property was purchased in November 2021 for $81,000 and the rehab was $14,500 for a total of $95,500.
The property was leased for $1,250 a month in January 2022. The first tenant stayed for 20 Months and the lease was lifted during their stay. The second tenant leased the home for $1450 a month in January 2024 and has been there for 21 months. Rents have been lifted here also.
Let's look at the amount of net proceeds that we have deposited in this owner's bank account.
2022 $ 8,765
2023 $ 7,000
2024 $12,109
2025 $10,404
Total net Money deposited in owners bank account $ 38,278
Approx value of the home is $200,000
Let's look at the overall return
$200,000 (Approx Value) - $25,000 (Value add needed) - $95,500 (cost of purchase and rehab) + $38,278 ( Net rental Income) = $117,778 Approx Profit so far.
That is a 31% return so far on this property
Let's Talk Income Contact Brett 216-703-5740 Key Realty and Property Management Mega Million Dollar Producer and Award Winning Realtor 1200+ Properties and counting Go to https://realincomeproperties.blogspot.com/ to view what our clients make with our real estate Need Property Management? Go to https://pmohio.org/ Go to https://www.clevelandincomerealestate.com/ for my Blog
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