PURCHASE PRICE - $580,000

PRICE Per Door - $145,000

MARKET RENTAL INCOME - $1,200-$1,400 PER MONTH! 💰💰

• 3 Bedrooms
• 2 Bathrooms
• 1,137 sq ft
• Built in 1980

Current Tenant Rate: $850-$925/month

Should be : $1,300-$1,400/month

This property overall is in good condition, does need updated fixtures, but the income potential is AMAZING!!

🔥 Townhomes in the area: $180-220k/Door

Recent Comps

1424 E Mart-Way Cir, Olathe, KS 66061 (6 Plex)

• 3/2.5 per unit
• $150k/Door
• Sold for $900K!
• No updates and poor finishes

17546 W 111th Pl Olathe, KS 66061 (Duplex)

• 3/2.5 per unit
• $200k/Door
• Pending for $400K!

547 E Spruce St. Olathe, KS 66061 (4 Plex)

• 3/2.5 per unit
• $205k/Door
• Sold for $820K!

1336 N Martway Dr. Olathe, KS 66061 (Duplex)

• 3/2 per unit
• $280k/Door
• Sold for $560K!

Cap rate sits at 7.2% after adjusting for an avg 10% vacancy rate & increased rent to $1,250/unit at a $580k purchase price.

Operating expenses: $13,234

📅 Tenants currently paying month to month.

Please review included pics for current rent roll and known age of mechanicals. 📝

Property is currently on MLS - We are under contract! We completely intend to close ourselves as we also own several multi-unit buildings... However, wanted to give our investor community an opportunity to own this asset as well.

📞 CALL STANLEY OR SHOOT HIM A 📲 TEXT FOR MORE INFO ON THIS KILLER DEAL!

(816) 937-3563