227/229 North Brown Street

• - 2 unit, 2274 Square Foot Duplex consisting of Two, Three Bedroom/Three bath units & are rented for 2024/2025 school year.
• -Rental Income of $48,956 and NOI of $28,212.87
• -Proforma NOI at market rent is $35,412.87 or 7.8% cap rate
• - Both units are in great condition with no deferred maintenance.
• -Tenants are responsible for all utilities & water/sewer.
• -The leases are designed to give the Landlord 12 days to turn the unit while rent is still being paid.
• -Buyers can tour the interior of the units with an agreed upon LOI.

Property Description

Investment Opportunity in a Strong Rental Market. No changes in asking rent for 3 years and current market rent is $75-$100 higher per bedroom.