2800 NW 56th Ave. C-309, Lauderhill, FL
For Sale
$ Click for current price
2 BEDROOMS | 1 (1 full ) BATHROOMS | 878 SQUARE FEET
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