971 Norton St.



Apartment 1. 971 Norton St. Dn. first floor and front of second floor. 2 bedroom, 1 bath. Current status: Rented. Single working professional and 2 children. She has always kept the unit perfect and is a good paying, nice, month to month, 3 year tenant Rent is $850.

The unit is really a full very large 2 story 2 -3 bedroom house it has a huge living room and dining room. Eat in kitchen and enclosed front porch. Lots of natural trim and a beautiful staircase.

Upstairs there is a large master bedroom with 2 large closets. There are new kitchen oak kitchen cabinets in this unit.

Apartment 2. 971 Norton up. Rear second floor. 1 bedroom, 1 bath Current status: Rented. Single mature professional (30 + years at his current job) Good paying, Month to month, new tenant who was 9 years in his last apartment. He moved because the house was sold and new owner wanted to live in his unit. Rent is $700

The back unit is a 1 bedroom with very nice hardwood floors, ceramic tile counter tops in the kitchen and natural trim. It has a recently redone bathroom with new plumbing. The bedroom and Living room are quite spacious..

All of the plumbing has been updated. The house has all separate utilities. There is off street parking. This house is part of a 12 unit package 


Price: 79,900.

Units: 2

Price per unit: 39,950.

monthly rent: $1550.00**

annual rent: $18,600.00

Annual expenses: 3,530.

Net annual income:$15,069.09

CAP rate: 18.86%

Gross rent multiplier: 4.30

** Rent amounts do not reflect what section 8 allows which is more. See spreadsheets for more info. 

Section 8 subsidy

More Details

Taxes: 2,804.

Insurance: 424.

Water: 302

Square feet:1,710.

Lot size: 30 x 120

Acreage: .08

Heat: 2 Gas forced air

Electrical: 2 100 amp circuit breaker

Bedrooms: 3-4