21 North 14th Street, Fort Dodge, IA

18.03% return

SP: $89,900

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Property Description

AWESOME RENTAL TRIPLEX!!! SECTION 8 TENANTS. GOOD CONDITION, NEEDS TLC AND A NEW OWNER. PERFECT STARTER PROPERTY!! PROPERTY WILL GENERATE A 18%+ NET RETURN ON INVESTMENT!!! DO NOT MISS OUT ON THIS OPPORTUNTIY!!!

Property Information

Listing statusActive
Property typeMulti Family
Total units3
Total bedrooms4
Total bathrooms3
Building size1468 sq. ft.
Lot size0.1 acres
Year built1900

CountyWebster County
Subdivision
ConstructionConcrete Block
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingGas Furnace
CoolingWindow A/C

Property Financial Summary

Sale price$89,900
Estimated rehab¹$5,000
Total investment$94,900

TypeProforma
After repair value$129,900
Potential profit$35,000

Gross income (annually)$26,400
Operating expenses (annually)$9,290
Net income (annually)$17,110
Gross return27.82%

Gross income (monthly)$2,200
Operating expenses (monthly)$774
Net income (monthly)$1,426
Net return18.03%

Property Income & ExpensesMonthlyAnnual

Income

Duplex
Unit 1: 1 bed / 1 bath$700/month$8,400/year
Unit 2: 1 bed / 1 bath$700/month$8,400/year
House
Unit 3: 2 bed / 1 bath$800/month$9,600/year
Total$2,200/month$26,400/year

Expenses

Electric and Gas$250/month$3,000/year
Property Taxes$72/month$868/year
Insurance$202/month$2,422/year
Maintenance reserve$250/month$3,000/year
Total$774/month$9,290/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.