Rockford Fixer Upper: $14K Discount, Good Cash Flow Potential
December 2nd, 2008
We have analyzed this deal to see how this particular single family home in Rockford would be as a rental property. Read the article Income, Depreciation, Equity Build Up, Appreciation and Leverage in Deal Analysis for an overview of how I do the deal analysis below.
Where is this property?
It is located in Rockford, IL. The property address is kept private to preserve the deals for our members. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about Deal #3806 and they can give you the full details about this property and help you in purchasing it. This particular property was submitted to the Rockford Real Estate Resources Website featuring real estate investor articles and local deals.
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How did we find this property?
We found this property from one of our real estate investor friendly agents/brokers or one of the real estate investor wholesalers we know in the Rockford area.
Learn to find motivated sellers using marketing in Buying Houses with Oversize Post Cards. This CD is included as part of the 68 CD Ultimate Real Estate Investor Package that you get when you purchase any house we promote on the website through our recommended real estate agent or broker. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about real estate Deal #3806 and they can give you the full details about this property and help you in purchasing it.
The Story
Before we get into our full analysis, here is some of the interesting story for this particular deal:
Additional notes from the wholesaler: 1 car detached garage needs a new door. The attic can be transformed into a 3rd bedroom with room for a full or half bath. The full unfinished basement can be transformed into a family/recroom. Give or take a few hundred on the curb appeal and the enclosed front porch area. Included in the estimates above are the windows as well as the doors to the property. I guestimate the whole rehab to be around 20,000 give or take a few hundred. There is a furnace and water heater.
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Property Details
- Bedrooms: 2
- Baths: 1.00
- Square Footage: 740 (see square footage estimates for info)
- All information is deemed reliable, but is pulled from tax records, real estate agent, zillow or the seller.
Income
- Gross Rent: $850/month (see Rent Estimates for more info)
- 4.00% Vacancy Adjustment: $34/month (see Vacancy Estimates for more info)
- Net Rent: $816/month
- NOTE: These numbers are for traditional rental income and NOT a rent-to-own. Rent-to-own analysis follows below.
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