Home Details for 3116 Kings Way

This is a unique situation. The seller would like to discuss all creative options. The home is going to need substantial renovation. Expense % of Gross Income Property taxes 4%–6% Insurance 2%–4% Utilities (if owner-paid) 10%–15% Repairs & maintenance reserve 5%–10% Vacancy & credit loss 5%–10% Landscaping/pest control 1%–3% Capital reserves (future HVAC, roof, appliances, etc.) 5%–10% Total (self-managed) 25%–40% Gross Potential Income 5 bedrooms + studio = $6,500/month Annual = $78,000 Adjust for 90% occupancy Effective Gross Income = about $70,200/year Example expense budget (30%) Expenses ˜ $21,000/year Net Operating Income Approximately $49,000/year Using common investor cap rates: Cap Rate Value 10% $490,000 8% $612,000 A one-third interest before any minority discount would be approximately: $163,000 at a $490k valuation

• Parking

  • Attached Carport
  • Electric Vehicle Charging Station(s)
  • Guest
  • Inside Entrance
  • Tandem

• Cooling Information

  • Electric
  • None

• Heating Information

  • Electric
  • Wall Furnace

• House Interior

  • Smart Thermostat
  • Master Downstairs

• Water Features

  • Public

• Utilities

  • Electricity Available