Multi-Unit Residential Park | 6 Houses & 2 Trailers

Multi-Unit Residential Park | 6 Houses & 2 Trailers

6.89 Acres | Zoned A-1

Tax Parcel: 109-257 | 3.58 Acres | Brickyard Road Properties | 3 Houses

 

#342: Brickyard Road – House (currently occupied) 

  • Rent $800/Monthly (currently behind) 
  • 3 Bedroom | 1 Bath w/ y2 basement | Approx. 1,000 SqFt w/ poured foundation 
  • Private Septic 
  • Central HVAC 
  • Separate Electric Meter 
  • Large Pressure Tank | *Main well for #342, # 354, and 377*

 

#354: Brickyard Road – House (currently occupied) 

  • Rent $600/Monthly
  • 2 Bedrooms | 1 Bath | Approx. 900 SqFt
  • Shared well from #342
  • A/C window unit | Electric Heat 
  • Private Septic 
  • Separate electric meters 

 

#377 Brickyard Road – House (currently occupied) – Tenant is moving within 30 days

  • Rent $600/Monthly (currently behind 2 months) 
  • 2 Bedroom | 1 Bath | Approx. 900 SqFt
  • Shared well w/#342
  • A/C window unit | Electric Space Heat 
  • Crawlspace  
  • Private Septic 
  • Separate electric 

 

Tax Parcel: 109-258 | 3.31 Acres | Memory Lane Properties | 3 Houses | 2 Mobile Homes

 

#29 Memory Lane – House (vacant) 

  • Est Rent $800/Monthly (currently behind 2 months) 
  • 2 Bedroom | 1 Bath | Approx. _____ SqFt w/ partial basement & poured foundation 
  • Private Septic 
  • Central HVAC
  • Separate electric 
  • Shared well from #29

 

#43 Memory Lane – House (vacant) 

  • Est Rent $1,100/Monthly  
  • 3 Bedroom | 2 Bath | Approx. _____ SqFt w/ partial basement | Poured Foundation 
  • Under Renovation w/materials included for remodeling 
  • Central HVAC
  • Separate electric 
  • New floor joists, sub floor etc. 

 

#79 Memory Lane – House (occupied) | *Tenant in park for 30 years*

  • Rent $400/Monthly  
  • 2 Bedroom | 1 Bath 
  • Private Septic
  • Central HVAC
  • Shared well from #29

 

#99 Memory Lane – Single Wide Trailer (occupied) 

  • Rent $600/Monthly  
  • 2 Bedroom | 1 Bath 
  • Central HVAC
  • Separate electric 
  • Private septic 

 

#105 Memory Lane – Single Wide Trailer (vacant) 

  • Rent $600/Monthly  
  • 1 Bedroom | 1 Bath 
  • Window AC
  • Separate electric
  • Oil Heat | Propane Stove 
  • Private Septic  

 

 

 

Cash Flow Analysis: Estimated Rents/Actual Rents

 

#342 Brickyard Rd : $800 Occupied

#354 Brickyard Rd: $600 Occupied

#377 Brickyard Rd: $600 Occupied – Tenant Moving out | 30 Day notice

#29 Brickyard Rd:  Est $800 Vacant

#43 Brickyard Rd: Est $1,100 Vacant

#79 Brickyard Rd: $400 Occupied

#99 Brickyard Rd: $600 Occupied

#105 Brickyard Rd: $600 Occupied

 

Total: $5,500 monthly & $66,000 yearly

 

 

Income Approach: Est gross income $66,000

 

Credit loss & vacancy: $6,480 | 10%

Adjusted gross: $58,320

Taxes, Insurance, maintenance, reserves, replacements etc.: $17,496 (30%)

Net operation income: $40,824

Capitalization Rate: 12%

Market Value: $340,200

Tax Assessed Value $455,600

2017 Appraised Value: 410,000

 

Listed: $275,000