This fully renovated turn-key property that was recently renovated. The property has a performing tenant paying rent of $850 a month. The property is located few blocks away from the Battle Monument, a historic neighborhood. After the lease expires you can increase the rent by about $100. The rent in the area for a similar 2 bedroom is $900 – $950.
Estimated yearly income and expenses of all the necessary costs for maintaining the property.
Rental Income: $10,200/year or $850/month
Estimated Property Taxes: $1,347/year or $112.25/month
Management Fee: $1020/year or $85/month
Insurance: $600/year or $50/month
Permit: $115/year or $9.58/month (Rental Permit)
Total Expenses: $3,082/year or $256.83/month
Net Income: $7,118/year or $593.17/month