501 West Ave.
Buffalo, NY 14213
* 2/3 Bedroom/ 2 Bath Duplex *
Price:
$20,000 Terms: All cash
Here is a great duplex
on the Westside of town, just a block from
D’Youngville University and half a
block from Rite Aid. There
is a great demand for clean, well-kept, affordable rental housing.
This is a
really solid piece of property with lots of potential!!
This home features large units, one with
3 bedrooms/1 bath and the other one with 2 bedrooms/1 bath.
Each unit has a fireplace, large kitchens, and
a large bonus room in the first floor unit. The exterior of this property has
aluminum siding, which is in good condition. This house was built to last!
All this home needs is a little TLC (tender loving care).
Market
rents for these units should be $500-600/each per month.
Description
Year
Built- 1920
Square
Footage-
2,552
Lot
Size-Approx.
35 X 149
Estimated
Taxes-$1100
Exterior-
Vinyl siding
Rent-
Future rents should be $500-600/mo. Tenant
to pay all utilities, except wsg.
Insurance-
$450/ year.
Additional
Information
Vinyl
siding
Fireplaces
in both units
Addition
bonus room in first floor unit
Fenced
backyard
Public
water & Public sewer
Close to major bus line
One block from D’Youngville
University and half a block from Rite Aid
Owner
Financing
Purchase Price $20,000
Downpayment
$5,000
Amount of Note
$15,000
Terms
of Note:
15% Interest
Interest Only
2 Year Balloon
5 Points Fee $750
Monthly
Payment
$187.50
Sales
Price- $20,000
At
$1000/Month
Gross
rents
$1,2000.00
Payments
2250.00
Taxes
& ins.
1550.00
Net
gross income
$8200.00
Approximate cash needed
to rehab $11,000 (+ $5000 Down + $750 Pts.)
Gross
Cash on Cash Return on Investment
=49% ($8200.00
divided by $16,750)
Sales
Price- $20,000
At
$1200/Month
Gross
rents
$14,400.00
Payments
2250.00
Taxes
& ins.
1550.00
Net
gross income $10,600.00
Approximate cash needed
to rehab $11,000 (+ $5000 Down + $750 Pts.)
Gross
Cash on Cash Return on Investment
=63% ($10,600.00
divided by $16,750)
Property
Photos
For more information: Call Chris
425-445-1010
or
1-877-577-9802
