740-742 North St.

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$89,900.

sold

This is a true side by side double house. It has a separate driveway and yard for each side of the house.It offers the privacy of 2 single family houses with the returns of a multi- family.

Apartment 1. 740 North St. Right side of house. 4 to 5 bedrooms 1 bathroom. Current status: Rented. Tenant is a single working, store manager, excellent paying, very nice, month to month and her children. She pays $800. Landlords current rate for this unit is $1100.

The unit has 4 bedrooms up and a second  living room that is also being used as a bedroom. The kitchen and bath were recently redone. All the carpets were replaced 2 year ago. It also has a dining room and full basement for storage and laundry. This is a huge unit.

Apartment 2 742 North St. Left side of house 4 to 5 bedrooms 1.5 bathrooms. Current Status: Rented. Tenant is single, retired from the school district, very nice and always on time month to month. She pays $850 landlords current rate for this unit is $1100

The unit was all updated recently. It has 3 bedrooms up, 1.5 bathrooms, a dining room and a 4th bedroom on the first floor. This is another huge unit with full basement and laundry.

The entire house has vinyl replacement windows and many new roof surfaces. This house is part of a 12 unit package

Financial

Price: 89,900

Units: 2

Price per unit: 44,950.

monthly rent: $2,200.00**

annual rent: $26,400.00

Annual expenses: 3,918.

Net annual income:$22,481.09

CAP rate: 25.01%

Gross rent multiplier: 3.41

** Rent amounts  may not include discounts for long term tenants. Rents do not reflect section 8 amounts which are higher. See spreadsheets for more info.

 Section 8 subsidy

More Details

Taxes: 2,945.

Insurance: 606.

Water: 367.

Square feet:3496

Lot size: 101.9 x 75.68

Acreage: .16

Heat: 3 Gas forced air

Electrical: 2 100 amp circuit breaker

Bedrooms: 8-9

Bathrooms:3