434 Emerson st.

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$139,900

IN CONTRACT

This is a very nice 3 family house. 

Apartment 1. 434 Emerson St. 3 bedroom 1.5 bath. Current status: Vacant for possible owners unit. entire unit has been repainted. Bathroom and kitchen upgrades underway. unit will be move in ready before closing.RENT AMOUNT$1150.

Description: On the right side of the house this is a 1900 square foot three bedroom apartment. All of the rooms in this unit are extra large. Downstairs is an eat in kitchen with a full pantry and closet, A beautiful dining room and a living room and the foyer with closet and a very nice stair case to the second floor. Also off the dining room there is a very nice powder room. There is also a very large enclosed front porch, that is more like a room, as well as a back hall at the rear door with room for coats and shoes.

Upstairs a very wide and spacious hallway connects the very large 3 Bedrooms and the full bathroom. The middle bed room has an extra nursery area that could accommodate all the furniture needed for a baby. This unit has a huge attic space for storage as well as a full basement with Laundry hookups.

THIS UNIT HAS BEEN REDONE. THERE IS SOME WORK REMAINING IN KITCHEN AND BATH TO BE COMPLETE.

OWNER WANTS TO SELL THIS PROPERTY NOW AS IS AND IS WILLING TO SUBSTATIALY DISCOUNT FOR FAST SALE ($115,000) If property does not sell in time for this exchange it will be taken off the market until December 1, 2020 when renovations are complete. list price will be $145,000

Apartment 2 438 Emerson St. Up. 1 bedroom 1 bath. Current status:Rented to long term, working professional, month to month tenant of 9 years.always pays extremely neat. Apartment has been repainted with new carpet and other updates while he has been in place.He pays $500.00 our current rate for this unit is $700.

Description: On the left side the upstairs apartment has a huge living room an eat in kitchen and a very large bedroom and a bathroom. It also has access to a huge attic for storage. Excellent condition Beautiful entry

Apartment 3 438 Emerson Dn. 1 bedroom 1 bath. Current status: Rented to working couple. Tenants are very nice and neat, month to month, long term employed, never late and have been there for 4 years. They pay $650. our current rate for this unit is $700.  

Description: The left side, downstairs apartment has a very large Living room, a large Kitchen and a large bedroom and a bathroom. The downstairs unit has access to the basement for storage. There is also a very nice enclosed front porch shared by both up and down tenants as well as a foyer with beautiful stairs and a locking closet for the downstairs tenant.

Financial

Price: 129,900.

Units: 3

Price per unit: 43,300.

monthly rent: $2300.00**

annual rent: $27,600.00

Annual expenses: 4214

Net annual income:$23,385.32

CAP rate: 18.%

Gross rent multiplier: 4.71

** Rent amounts reflect landlords current standard rate. Section 8 allows more. actual rents may include discounts for long term tenants. See spreadsheets for more info.

 Section 8 subsidy

Heat: 3 gas forced air

Electrical: 3 100 amp circuit breaker

Bedrooms: 5

Bathrooms:4

Taxes: 3327.

Insurance: 631.

Water: 352

Square feet:3780

Lot size: 45 x 92

Acreage: .09

More Details