Exceptional Real Estate:285 Marion Bedford Ohio Income Results

My client paid $90,000 for this home in August 2021. Rehab was approx $15,000 making the purchase Price $105,000.

This property had an existing tenant so we did not rehab it for a year. The original rent was $1040 a month which was low. The client decided to keep the tenant and not do the rehab until they moved out.

Let's look at the Approx Numbers Lease $1040 Tax $229 Insurance $60 P/M $125 Net $626 x 27 months $16,902

In Feb 2023 the property was rehabbed and rented for $1250 a monthLet's look at those Approx Numbers

Lease $1250 Tax $240 Insurance $60 P/M $125 net $825 x 14 Months $11,550

We raised the lease amount to $1350 a month in June 2024 to the existing tenant.Let's look at those Approx Numbers

Lease $1350 Tax $240 Insurance $60 P/M $125 net $925 x 2 Months $1,850

Total Approx Net Rent Received $30,302 in rent

Approx Value of the Property $180,000

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