2800 NW 56th Ave. C-309, Lauderhill, FL

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2800 NW 56th Ave. C-309, Lauderhill, FL

For Sale

$ Click for current price
2 BEDROOMS | 1 (1 full ) BATHROOMS | 878 SQUARE FEET

Presented By:

Wholesale Florida Homes

Wholesale Florida Homes
954-634-5755
Licensed In: Florida

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Property Description

Showing today 9/22 @ 5 p.m. on Facebook Live!!! Follow our fanpage here to watch!!! Or follow Craigs Facebook Here!

2/1 Condo. in a good neighborhood.  14.9% Cap Rate!!!

Very little rehab needed

Buy for $48,750

Rehab $10,000

Total  $58,750

Section 8 Rents in the area for a 2/1 between $1,000-$1,100

H.O.A. = $265

Taxes = $488 for 2015

Cap Rate Equation:

Using $60,000 as total cost between Purchase, Rehab and closing costs.

Using $1,050 as rent – H.O.A. fee of $265 per month = $785 Monthly Net Rent

$785 x 12 months = $9,420

$9,420 – $488 (Yearly Taxes) = $8,932

$60,000 Total Investment

$8,932 Yearly Net Income

= 14.9% Cap Rate

 



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