Company Description
This property is an occupied single family home located in Akron, Ohio. It was renovated in April 2022 and has 6 bedrooms, 2 bathrooms, and a 2-car garage.
It passed the Section 8 inspection on 04/20/2022 and the rent is 100% paid for by the government. The lease ends on 04/30/2023 and is $1,386/month.
Refer to the 'Documents' tab above to view the following information:
Purchase Agreement
Inspection report
Renovations & inspection report repairs
Property description & rent roll
HouseCanary report
Comparable properties
Our A.I. does not have enough data for this property to make an accurate forecast of the future appreciation. Because of this, we are not projecting that this property will rapidly appreciate. The projected appreciation of 6.63% is determined by taking the average of HouseCanary's 3 year appreciation projection for the zip code.
The LLC documents will be uploaded to the 'Documents' tab once the property is fully funded and closed.
Updates:
Update 9/19/2022: The sewer/drain line has backed up into the basement. The Property Manager hired a sewer and drain vendor to camera the lines and identify the root cause of the back-up. The vendor serviced the property and identified that the 90 on the main stack is compromised and is holding and not allowing for proper flow. The required repairs include: Saw cut a section of the floor, approximately 3x3. Additional cut may be required if the sewer line that is under the concrete that the 90 connects is compromised outside of the 3x3 point repair. An additional $125 per LF will apply outside of the original 3x3 floor penetration. Clamp and brace the stack. Remove the compromised 90. Make the necessary plumbing connections on the lateral and the 90. Stub up a new 90 and remove the approximately 7 feet of ABS main stack and convert this to schedule 40 PVC. Make all the necessary plumbing connections and backfill the excavation. Pour concrete where it was removed
The total cost of repairs is $2,805. These funds will be deducted from the Maintenance Reserve which will be replenished via 10% of the cash flow until it is full again.
