910 N 6th Ave E, Newton, Iowa, United States | Homes For Sale at GLOBAL LISTINGS

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Home For Sale

$199,000

910 N 6th Ave E
Newton, Iowa, United States

4ba

Listed By: Realtyww Info

Listed On: 05/18/2023

Listing ID: GL10492101 View More Details

Description

Very Rare Ranch style 4-plex, 1 bed, 1 bath. Current Monthly Gross rent:$2725. All 4 units rented, annual leases. Cap rate of 10.7% and Potential Free Cash flow of $13, 500 (including $980 set aside for reserves) after mortgage and expenses, see Proforma. There is additional opportunity to lower expenses and increase income with unit updates. Internet and electricity paid by tenants. Gas and water/trash currently paid by Landlord. Proforma using real numbers over the past year. Please reach out to listing agent for Proforma and to schedule time to see the property. Planning to do open house style showing (one day several hour timeframe), depending on requests.

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Listed by: Simply Better Realty, Llc