Off Market Cash Flowing Duplex

1672 S Fares Ave, Evansville, IN 47714

$100,000 After Repair Value -
$85,000 Asking Price -
$0 Cost of Repairs =
$15,000 Potential Profit

Property Details

Asking Price $85,000

After Repair Value $100,000

Costs of Repairs $0

Potential Profit $15,000

Living Area N/A

Property Type Unknown

Bedrooms 5

Bathrooms 3

Half Bathrooms N/A

Parking 1

Listed with Agent 1

EPI (Estimated Potential Income)

Potential Rental Income $1,450

Yearly Expenses N/A

Property Taxes N/A

Net Operating Income N/A

Cap Rate N/A

Property Description

We are looking for an assignment of contract! Please contact me at Cash flowing duplex that will surpass the 1.5% rule! Strong tenants already renting it out on long-term leases, and one of the tenants performs repairs on the property. The pictures shown below are of the unit that will be painted soon. Unit 1: • Rents for $650 per month • 2 bed / 1 bath ? Has a back unit being rented out that is an additional 1 bed and 1 bath. Does not have a kitchen, and they are in the process of moving out and the tenant will take over this space, making his side a 3 bed / 2 bath. ? Owner pays all utilities, but once this tenant moves into this additional space, the tenant will begin covering the electric on that side. Only one water and gas meter for all units, so owner pays those utilities. Opportunity to have unit 2 tenant pay electrical. • Tenant on a 2-year lease and has been there for 8 years. ? Desires to keep staying at the property and is the one that performs the repairs. ? Works for a painting company and is about to paint the interior Unit 2: • Rents for $800 per month • 2 bed / 1 bath • Tenant on a 1-year lease Repairs: • Roof has a spot that needs repaired. A tarp is currently covering the area needing repair. The unit 1 tenant has offered to repair the spot. • Per the unit 1 tenant, he wants to raise the plumbing under the house for the additional 1 bed / 1 bath area. Not expecting it to be a big job.


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