3426 Monroe Street, Bellaire, OH

18.81% return

SP: $69,900

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Property Description

CASH COW TRIPLEX!!!

High demand area, very high rental comps. Property will generate insane income!! Units need minor cosmetics. 18%+ NET RETURN ON INVESTMENT WITH RENTS WAY BELOW MARKET!!!! TONS OF EQUITY ON A REFI!!!! Tenants pay all utilities. Low expenses!!

Financing is available!!

Property Information

Listing statusSold
Property typeMulti Family
Total units3
Total bedrooms3
Total bathrooms3
Building size2136 sq. ft.
Lot size0.1 acres
Year built1900

CountyBelmont County
Subdivision
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingElectric baseboards
CoolingWindow A/C

Property Financial Summary

Sale price$69,900
Estimated rehab¹$15,000
Total investment$84,900

TypeProforma
After repair value$129,900
Potential profit$45,000

Gross income (annually)$20,700
Operating expenses (annually)$4,734
Net income (annually)$15,966
Gross return24.38%

Gross income (monthly)$1,725
Operating expenses (monthly)$395
Net income (monthly)$1,330
Net return18.81%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 1 bed / 1 bath$575/month$6,900/year
Unit 2: 1 bed / 1 bath$575/month$6,900/year
Unit 3: 1 bed / 1 bath$575/month$6,900/year
Total$1,725/month$20,700/year

Expenses

Property Taxes$35/month$414/year
Insurance (estimated)$50/month$600/year
Lawn Care and Snow Removal$60/month$720/year
Maintenance reserve$250/month$3,000/year
Total$395/month$4,734/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.