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Once again this is a Buy and Hold Deal or Cap and Futures!
This pkg consist of 7 lots but a total of 9 rental properties as two of the properties have small apartment type of units in back of the house.
Seller recommends to hold this small pkg for 3-5 years and then sell off entire pkg once values have gone back up. Macon may not provide the overall appreciation as we will see in Atlanta but these are still houses that used to sell in the $50’s and $60’s so certainly room for overall appreciation.
The numbers:
$229,900 Cash Price for 9 Rentals!
Rents = $4190 x 12 = $50,280 annual gross income
Insurance = $450 x 20 = $4050 annual*
Taxes = $4406 actual*
Property Mgmt = 8% or $335 or $4023/yr.*
Net Annual Rental Income = $37,801 or 18% ROI
*These numbers are projections
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