Mortgage offered on this property
$20,000 buys this High yield Income investment producing 35% annual return after fixed costs consisting of THREE RENTAL APARTMENTS, unbelievably low price full purchase+Management Service provided buy this property safely from any part of the world
Fantastic opportunity on a small budget!
Finance available with a $20,000 down payment inc all buying costs.
Project property with three apartments, read our comments.
Finance option $20,000/£12,500/€15,384 deposit inc fees
Cash Price $41,000/£25,625/€31,538 inc fees
Net return when let after fixed running costs: 35% * see notes
Substantial Investment property on a budget!
With three apartments
High Yield Investment opportunity situated in Syracuse, New York State.
Notes; This is a fantastic opportunity to buy a substantial THREE apartment property on a small budget, the seller is willing to offer owner finance on this property.
Mortgage details; Amount= $21,000, Term= 8 years, Interest rate= 10%
Repayments capital & interest = $319.00
Although the apartments are in fair condition they will require upgrading to attract new tenants as they have been vacant for some time, the cost to bring the property in to a rentable condition is included within the asking price and will be carried out management company for the new owner this work will take about a month to complete and then the property management will provide new tenants for the property, this is a complete package on a small budget and opportunities like these rarely come along.
Detached investment property consisting of THREE apartments ( 1+1+3 bedroom)
• Finance option $20,000/£12,500/€15,384 deposit inc fees
• Cash Price $41,000/£25,625/€31,538 inc fees
• Gross annual return $19,200 / £12,000 / €14,769
• Net annual return after fixed running costs $6,982/£4,364/€5,372 35%
• Good rental location, easy to find tenants
• Attractive property, Hardwood floors throughout.
• Property consisting of THREE apartments
• Full management service provided
Rent roll $600 + $500* + $500* (* inc estimated utilities)
Net rental yield when fully let and after fixed annual running costs
$19,200 less $1,290 management, $1,500 water/insurance, $2,000 property taxes, $3,600 utility costs, $3,828 Annual mortgage repayments = $6,982
Gross rental income; $1,600 / £1,000 / €1,231 per month
Net rental income; $582/ £364 / €448 per month
The all-inclusive purchase costs for this property are $4,000 and are included in the cash price of $41,000 or $20,000/£12,500/€15,384 finance option all buying, legal fees & commissions are included in the price.
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=$1.60 & €1= $1.30 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 three apartments one with three bedrooms and the other two have one bedroom in each the property also has the benefit of off street parking and is situated on a corner lot.
• The Location: The property is situated in the south side of the city less than half a mile from Syracuse University the city’s largest employer and two miles south of the city center on a main road giving direct access to all city center locations.
• Condition: The property has been vacant for some time so we have included the cost of bringing the property in to a rentable condition within the asking price.
• Occupancy rate: High, due to the type of property there will always be a demand and it would be easy to find replacement tenants if needed.
• Tenanted: The property management company will provide tenants for this property once the upgrades are completed.
• 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.