613-615 Magee Ave.

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$99,900.

sold

613-615 Magee ave is a true side by side double. Each side has 3 bedrooms and a bathroom upstairs. Each side has its own separate attic as well as a separate basement. The house is located in a very nice upper working class neighborhood that is mainly owner occupied houses. The street is lined with beautiful mature trees as well as well cared for houses and flower gardens.

The units show and rent very well due to their spacious and beautiful interiors. Both sides feature hardwood floors. The 613 side still has a lot of the natural chestnut woodwork to look at and it has a large sliding door leading from the kitchen to the back yard. Both sides have large dining rooms as well as eat in kitchens and large bedrooms and living rooms. Both sides have open front porches. Laundry hookups in basement.

Apartment 1. 613 Magee Ave. Left side 3 bedrooms 1 bath.  current status: Rented to long term (7 years) very clean and quiet, long term,-working couple and their adult working daughter. Month to month tenants who are great payers and have never been behind. They currently pay $750. Landlords current rate for this unit is $1150.

Apartment 2. 615 Magee Ave. Right side 3 bedrooms 1 bath. Current status: Vacant. Left vacant to be used as possible owners unit to facilitate sale. newly painted. Kitchen upgrade almost complete. This unit rents for $1150

This house is part of a 12 unit package

Financial

Price: 99,900.

Units: 2

Price per unit: 49,950.

monthly rent: $2300.00**

annual rent: $27,600.00

Annual expenses: 4688.

Net annual income:$22,911.17

CAP rate: 22.93%

Gross rent multiplier: 3.62

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

Section 8 subsidy

More Details

Taxes: 3884.

Insurance: 452.

Water: 352.

Square feet:2352

Lot size: 40 x 119.5

Acreage: .11

Heat: 2 Gas forced air

Electrical: 2 100 amp circuit breaker

Bedrooms: 6

Bathrooms:3