Landlords & Buy+Hold investors, here’s your chance for cash flow in Winston-Salem! Buy and hold for long term wealth.
4414 Ogburn Ave is a duplex home in Winston-Salem, NC. This 1,510 square foot duplex sits on a 1/2 acre lot and features 4 bedrooms and 2 bathrooms (each unit is 2BR/1BA). This property was built in 1923.
Property is in solid condition, could use some TLC. Repairs needed: replace roof, replace HVAC to unit 1, replace bathroom in unit 1, remove tree branches. Property appraised As-Is for $108,000. After repair value $125,000
Unit 1: Tenant in place paying $450.00 month to month, (Market rent is $650/mo)
Unit 2: Tenant in place paying $500.00 month to month, (Market rent is $650/mo)
*Both tenants Month to Month
Current monthly rent: $950
Meets 1% rule
Market gross monthly rent: $1300/mo
Market Gross Annual Rent: $15,600
Price: $94,900 CASH
Est repairs: $12-15K
ARV: $125,000
As-Is appraised value: $108,000
*The median days on the market for properties in this area is 42 with a median list price of $299,900 and median cost per square foot of $128.
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****Seller Financing Available! No Bank Qualifying
Price: $110,000
$30,000 Down
$750/month for 60 months
Balloon payment at end of 60 months or 5 years.
Estimated Cash Flow: $400-500/month
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