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Key selling points
- High Yield Investment Opportunity
- Gross Rental Yield of 27%
- Fully Let @ $1000/month combined
- Already Home Inspected/Secured for our Clients
- Net Monthly Income of £320
- Personal Sourcing & Supervision/Our Own Property Management Co
HIGH YIELD INVESTMENT OPPORTUNITYDOUBLE FAMILY PROPERTY
GROSS RENTAL YIELD 27%!!
LIST PRICE: $49,900 £25,589
AGREED PRICE: $44,000 £22,564
APPRAISED VALUE: $50,000 £25,641IT WILL COST YOU ONLY £25,597 TO BUY THIS PROPERTY OUTRIGHT INCLUDING ALL EXPENSES, FEES AND COSTS!
- Gross Rental Yield 27%
- NET Monthly Income £320
- Already Fully Let
- Property Manager Assigned
- Home Inspection Conducted - Estimated non urgent repairs $500
- Great location
- Double Family Property
- Attorney Assigned
This investment property is located in the city's 22nd ward, only a ¼ mile from Rochester General Hospital.
The neighbourhood is an area of owner occupied and rental units, mid-low income/social services. There are many owner-occupied properties in the area, which gives it excellent re-sale potential. The property is currently occupied by two sets of tenants who pay a combined rent of $1000/month. The tenant in the lower apartment has lived in the property for 3 years and is happy to stay, the upper tenant has been living there since July. Tenancy type: Month to Month.
Features: 2 Family Property. Partially fenced rear yard. Plenty of off street parking. Detached 2-car garage.
Apartment 1: 2 bedrooms, living room, dining room, kitchen, bathroom.
Apartment 2: 1 bedroom, living room, small dining room, kitchen, bathroom. Also a small balcony off the rear.
Rochester is the third largest city in NY State. It lies an hour by car to the east of Buffalo, and is considered a sister city. It was America's first boomtown, largely due to it being the biggest flower producing city in the world in the 19th century. Median Income levels are low, making it a city of renters rather than home owners. It's home to a large number of international businesses, and is the world capital of imaging technology and optical science, with the university of Rochester ranked number 1 in the country for optical science services. It has historically been a city of high tech industries, which is why is hasn't seen the decline that other areas have in past decades. Indeed, there is a boom in highly advanced technological industries here as their economy diversifies further into the 21st Century.
The main employers there are the University of Rochester, Wegman's food markets, Eastman Kodak, Xerox and Viahealth (source- Wikipedia). The population during the last census showed an increase vastly due to the presence of the technological industries and associated employment there.
The real estate market expects capital gains of above 8% this year, and Rochester has the distinction of being named in the top 10 places to own real estate in the USA. (source-CNN). Property prices are slightly higher than Buffalo, but the rental yield increases also. There has been a 3% rise in property prices over the last few months. We toured Rochester and found that the city has been developed at a faster pace than Buffalo, and similarly to Buffalo, there are some great areas to invest in.
We provide a complete professional investment package on their Western New York rental properties. Prices start at £10k, NET rental returns of £250 monthly. With a weak dollar, and gross yields over 25%, now is the time to build a portfolio of freehold properties in Buffalo, Rochester and our new location - Syracuse, NY. We have over 2 years experience and offer unrivalled service to give you an armchair investment.
These properties do not stay available for long, and with a gross rental yield of 27%, it's not hard to see why. Contact us now for more information.
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