Two houses for the price of one, immediate income
26% Net return after fixed running costs when fully let this large let investment consists of two apartments & separate family home on one lot & is fully let & income producing, purchase service provided buy this property safely from your home from any part of the world. Inquire today
Two houses for the price of one providing three rental units.
Asking price $45,000 / £29,032/ €34,615.
$35,000 below assessed value, excellent rental location.
Two houses providing 2 apartments + 3 bed family House
Gross annual return when fully let: 49%
Net annual return, after fixed running costs: 26%
Fully let & income producing, well maintained
Location, location, location.
High Yield Investment opportunity situated in Syracuse, New York State.
Our comments; Two properties on one lot situated in one of the best rental areas in Syracuse and there will always be a very good demand by people wishing to rent, although showing a slightly less return that some of the other properties which is mainly due to its higher assessed value of $70,000 which means the taxes are slightly higher but we feel in the long-term it will outperform many due to its very favorable location which means tenants will stay longer thus a better overall return. These two detached properties are situated side by side fronting the road the single family house has three bedrooms and the multi-family house has two apartments 1 + 2 all are fully let and producing an income, all for $15,000 per unit.
Note*The two apartments share a single furnace so the utilities are included in the rents which are increased to cover the extra cost, this is not a deterrent to potential tenants as this is a popular option
Listing comments; Great Value in Tipp Hill. Two units on one lot. 2 family and a 1 family. Many, many upgrades and nothing to do but take over. No repairs needed. New windows 1 new roof, recently painted exteriors,
Detached property consisting of two apartments 1 x 1 & 1 x 2 bed + 3 bed family House
• Asking price $45,000 / £29,032/ €34,615.
• Gross annual return $21,900 / £14,129 / €16,846 49%
• Net annual return after fixed running costs $11,710/£7,754/€9,008 26%
• Excellent location of very high rental demand.
• Two houses on one lot, assessed value $70,000
• Providing 2 x apartments (1 + 2 bed) + 3 bed house.
• Fully let & income producing
• New windows, 1 new roof, newly painted exterior.
• Full management & purchase service provided
Rent roll $500 + $625 + $700
Net rental yield when fully let and after fixed annual running costs
($21,900 – less running costs; $2,190 management, $1,500 water and insurance, $3,500 property taxes, *$3,000 ( see note) utilities=$11,710)
Gross rental income; $1,825 / £1,177 / €1,404 per month
Net rental income; $976 / £629 / €751 per month
*The all-inclusive purchase costs for this property are $4,000.You could own this property for $49,000 and not a cent more, approximately £31,613/ €37,692 with all buying, legal fees & commissions paid.
We will have the property surveyed and a full management report prepared for you on the property, THERE ARE NO HIDDEN EXTRAS, ALLTHIS IS INCLUDED IN THIS PRICE.
Approximate breakdown of purchase costs per property are as follows;
Legal costs: $1,200
Survey costs / Property report: $1,000
Commission / fees: $1,800
Please note that with the ever changing exchange rates we have used £1=$1.55 & €1= $1.3 for guidance only, as all property prices are set in USD.
INTERESTED IN THIS PROPERTY? CONTACT US FOR DETAILS
We provide a complete purchasing service and will introduce the management that will maintain the property and collect the rent.
We will also source any property for our clients to suit their needs and budget.
• The Property: This property consists of two houses on one lot positioned side by side one house is a three bedroom single family home and the other house is a multi-family with two apartments ( 1 + 2 bedroom)
• The Location: It is situated in the North-West side of Syracuse in one of the best rental locations in the city about a mile from the Carousel center the city’s biggest shopping mall and about two miles west of the city center Condition: This property is excellent condition externally having been recently painted with one new roof and new windows the property manager has inspected the apartments and separate house and found it to be well cared for by the tenants and in good condition throughout
• Occupancy rate: Extremely high, due to the type of property there will always be a demand and it would be easy to find replacement tenants if needed, there is a high demand for three bedroom apartments.
• Tenanted: Yes,
• Management of this property: A full management service will be provided with this property.
Why buy in Syracuse?
CNN Money says this about Syracuse; 2011 CNN Story... Syracuse is 3rd in affordable housing.
Despite global property market slumps, stock market crashes and government bailing out of banks, Syracuse property prices are holding firm. Seeing a slight increase last year, Syracuse is listed in 2011 by CNN Money as the third most affordable place to live and work in the USA. This vibrant city, which remains the fifth most highly populated in New York State, is situated about 250 miles (downtown Syracuse to downtown New York) to the North-West of New York City. Assets include the city’s own Airport, Hancock International, and the large and well-respected Syracuse University which boasts a three-hundred acre campus. This impressive university is the city’s biggest employer, housing teaching hospitals which specialize in fields such as Bio-Technology and Pharmaceuticals. These industries have been attracted to the city since the 1980’s, which has resulted in a much lower unemployment / higher employment rate than the national average. With about 65% of inhabitants choosing to rent in Syracuse, there is a very high demand for rental properties and, along with the city’s additional assets; Syracuse has proven itself an excellent area to invest in.
The Service we provide
American Dream Investments (ADI) specialize in sourcing high yield income properties in the area of Syracuse, Onondaga County, NY State, USA, for investors who are seeking a truly bespoke service tailor made to their individual requirements.
The company takes pride in offering properties that produce an annual income of approximately up to 20% net, after fixed running costs have been deducted. The properties are situated in good locations with high rental demand and are offered at the lowest possible negotiated price.
Thank you for showing an interest in our investment property and we very much look forward to you contacting us in the future.