122 Cumberland St

Highlights:

• Days on Market: 2
• Heating: Forced Air

Description:

Build your own investment. This investor special is ready to be put together. This project has an approved plan for 6-2 bedroom units. Each unit is spec’ed at having a washer and dryer hookup along with air conditioning. These will be top of the market brand new rentals achieving top rents. Proforma was based on current middle rents. Basing on a 8% cap resale rate on a building with very little deferred maintenance when completed, the numbers look like this. Value=$1,140,000 minus repairs estimated to be $304,000 minus your purchase price ($460,000) = immediate equity. ($376,000)

Rehab Rental. 9% Cap Rate value at $1500 er month x6 units = $1,018,000 rehab $350,000. Plans are prepared and approved for 6 unit all 2 bedrooms. Looking for $460,000 or best reasonable offer.