This is a GREAT property for the investor who is looking for immediate cash flow. At $179,900 the COCR is ~19.23% and the CAP rate is ~9.5% with a Cashflow of ~$1,980/month. Tenants are already in place and under an annual lease agreement. The property currently has property management in place at 10%.
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This is a duplex with both units recently updated. New floors, newer roof and furnaces, new hot water heater, and new siding all means very low maintenance costs for the new owner/landlord. This home is in the Wilkes-Barre School district, Solomon Plains Elementary, and the quiet neighborhood of The Terrace. One unit is Fully remodeled - New kitchen with granite countertop, brand new drywall, hardwood floor, new LVP flooring in kitchen and bathroom, new vanity, new windows. The other unit has been upgraded as well with new LVP and carpet flooring, and new vanity.
Out of respect for the tenants, interior showings will be scheduled only upon a submitted offer to purchase or a notice of intent. For more photos, please contact us and we will be happy to share those with you. This property is being sold by the owner, no financing is being offered and no rent-to-own options are currently available.
Please contact us for more information and please refer to AD# RA7981