🏡💸 Don't miss out on the income results Like 4407 Woodway Ave!

The properties only had one tenant meaning that Tenant has been in that property for 54 month’s.

The rehab on this property was approximately $19,000. Let’s look at the income let’s look at what we deposited in the owners account

2020 there was $8657 net

2021 there was $12,091 net

2022 there was $6730 net

2023 there was $5596 net

2024 there was $7392 net .

For a total total of $40,465 so far for this property.

We had to replace the heater and some plumbing which would be taken care of but this particular property doesn’t have the warranty on it. But if it did, it would save this investor a lot of money. The good news is they still made a time of money

The rents were increased in 2022 $1250 a month and in 2023 they were increased to $1300 a month.

We will be increasing the rent to $1350 a month at the end of this year.

Let’s look at what the properties worth today per MLS

The property comps at $195,000

Let’s look 👀 at the blended return

Rent $40,465 + $195,000 - $95,000= $100,000

Net total approx net return $140,465 or a 30% return

Call me (Brett) 216-703-5740 Key Realty and Property Management