Duplex completely rehabbed, new plumbing and electric, new appliances, cabinets, tile, refinished hardwood floors.
Historical building has new plumbing and electric. Needs about $25K to finish. Baths and kitchen remodeled. Can be used for halfway house, homeless veterans, traveling nurses, group home. Do your due diligence prior to submitting your offer because there will be no option period.
Here are the comps:
409 Texas Blvd, Texarkana, TX 75501: Price $335,000 7,800 SF $43/sq ft
1611 Spruce St, Texarkana ,TX 75501: Price $140,000 4,000 SF $35/sq ft
1114 Olive St, Texarkana, TX 75501: Price $125,000 4,023 SF $31/sq ft
706 N Kings Hwy, Texarkana, TX 75501: Price $200,000 5,712 SF $35/sq ft
Purchase price $160.000. ARV is a minimum of $280,000.
Here are the estimated NOI and Cap Rate:
Gross income/month $6000
20% Vacancy Rate 1200
Property Management 600
Property Tax 323
Net Operating Income (NOI)/month $3184
x 12 months 12
Net Operating Income (NOI)/year $38208
Divide by Purchase Price $160000
Cap Rate 24%
First come first served. This will go fast!
do NOT contact me with unsolicited services or offers