INVESTORS, RUN THESE NUMBERS! 5 BR / 3 FULL BA with HARDWOODS for $135,000, sold AS-IS in Brooklyn (21225). THE RENT: Comparable 5BR rentals on and near 3rd St are asking $2,600 to $3,100/mo. A same-block 5BR/3BA has marketed at $2,900/mo and a 5BR/4BA on 4th St at $3,100/mo. THE RETURN (estimates): At $2,800/mo = $33,600 gross per year. That is a 4.0 GRM and 2.07% rent-to-price. After 5% vacancy, est. taxes ($2,600), insurance, maintenance, management and capex reserves, est. NOI is about $20,600 = approx 15.3% cap rate on the $135K price. Conservative case at $2,600/mo = approx 14.0%. At $3,100/mo = approx 17.3%. ALL-IN: Add a $40K rehab and your basis is $175K at an est. 11.8% cap. A $60K rehab puts you at $195K and an est. 10.6% cap. UPSIDE: By-the-room rentals on this block have marketed at $875 per room all-in. Five rooms would gross about $4,375/mo (buyer to verify zoning, occupancy limits and rental licensing). EXIT: Recent 3rd St sales have ranged from $167K to $215K, so there is room to build equity for BRRRR or flip buyers once the work is done. THE DEAL: Hardwoods are already in place. 3 full baths mean fewer tenant conflicts and a wider tenant pool. Sold strictly AS-IS, no repairs and no warranties. Cash or renovation financing recommended. All figures are estimates, not guarantees. Buyer to verify rents, taxes, zoning, condition and all information.

Listing courtesy of Long & Foster Real Estate, Inc.



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