MLS ID: 20520586

Excellent investment property with a Cap Rate of 9.39% at current asking price. Beautiful, well maintained duplex in Historical South Highland. Total monthly rent: $2,450. Total annual rent: $29,400. Annual gross expense: $3,567 (taxes & ins.). Annual net income: $25,833. Downstairs tenant (521 Dudley) has leased for 3 yrs. Upstairs tenant (523 Dudley) has leased for 31 yrs. Both units are leased thru 12-31-2024. Ea. unit is approx. 1,406 sf, 2 BR, 1 full BA and ea. includes a wood burning fireplace, covered side porch, stackable washer-dryer area. Tenants pay all utilities & are separately metered. New roof in 2023. Washer, dryer, fridge & microwave in ea. unit. Downstairs unit has a 3rd room that can be used as an office or other. Hardwood floors, ceramic tile & some carpet. FHA loan may be ASSUMABLE at 3.375%, but neither lease expires until 12-31-24 so occupancy can’t take place until 1-1-25. Loan origination date: 7-1-2020. Lease copies available on request.

Listing by: Century 21 Elite, Steven Mabry