$ 175,000
813 N University Street Seminole, OK 74868
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$ 175,000
Est. payment /mo
Pending
813 N University Street Seminole, OK 74868
12 Beds
8 Baths
6,780 SqFt
UPDATED:
11/13/2024 02:47 PM
Key Details
Property Type Multi-Family
Sub Type More Than 4 Units
Listing Status Pending
Purchase Type For Sale
Square Footage 6,780 sqft
Price per Sqft $25
MLS Listing ID 1108797
Style Other
Bedrooms 12
Full Baths 8
Construction Status Other
Year Built 1982
Property Description
Investors look: 8 rental units. 4 units are 2 bed and 4 units are 1 bedroom. ( if at full capacity)
Rent Potential at 100% occupancy is $53,900. Rent at 80% occupancy is $42,900. Estimated annual expenses. Property tax $1,000: Property Insurance $4,300: Utilities $7,500 : Repairs and Misc $7,000 for a total of $19,800. Net Income after expense is $23,100. 10% cap Rate value indicates value of $231,000. Market value based on comp value is quite different(Less).
Borrowing Scenario. $150,000 loan 15 years @ 8% would have a monthly payment of $1,435 a month or $17,220 annually versus net income of $23,100 which provides an attractive debt coverage ratio.
**This info is an estimation of taxes, insurance, rent & occupancy rates. EASY TO SHOW
Rent Potential at 100% occupancy is $53,900. Rent at 80% occupancy is $42,900. Estimated annual expenses. Property tax $1,000: Property Insurance $4,300: Utilities $7,500 : Repairs and Misc $7,000 for a total of $19,800. Net Income after expense is $23,100. 10% cap Rate value indicates value of $231,000. Market value based on comp value is quite different(Less).
Borrowing Scenario. $150,000 loan 15 years @ 8% would have a monthly payment of $1,435 a month or $17,220 annually versus net income of $23,100 which provides an attractive debt coverage ratio.
**This info is an estimation of taxes, insurance, rent & occupancy rates. EASY TO SHOW
Location
State OK
County Seminole
Interior
Heating Zoned Gas
Cooling Window Unit
Exterior
Roof Type Composition
Private Pool Yes
Building
Lot Description Other
Story 2.0000
Foundation Conventional
Level or Stories Two
Structure Type Other
Construction Status Other
Schools
Elementary Schools Northwood Es
Middle Schools Seminole Ms
High Schools Seminole Hs
School District Seminole
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Pam Robinson • Pam Robinson Real Estate Inc
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