Company Description
This property is a single family home and is located near The University of Akron. All of the tenants are students and the home is rented by the room.
Four rooms are rented at $325/month each from 8/1/2021 - 7/22/2022.
The seller already has a new batch of tenants lined up for new leases and the start of the new academic year. To provide reassurance, the seller will escrow $5,000 and will distribute any rent shortage to maintain $1,300/mo in rental income for up to one year.
Seller is giving a 50% discount on PM fees for the first year at $37.50/mo ($450/yr)
In year two, the PM fees will be increased to $75/month ($900/yr)
This reduces the Cash on Cash return to 9.8% starting in year 2
The seller is providing the following perks for this property:
1 year rent guarantee
1 year maintenance coverage
1 year home warranty
Refer to the 'Documents' tab above to view the following information plus more:
Appraisal
HouseCanary Report
Purchase Agreement
Inspection report
Inspection report repairs
Rent roll
Lease Agreement
Sales price history
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 5.93% 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.
