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1316 Gorham St MOUNT DORA, FL 32757 Assigned

  • $103,000
  • 4 beds
  • 2 baths
  • 1,112 sqft
Assigned

1316 Gorham St MOUNT DORA, FL 32757

Year Built: 1930
Square Feet: 1,112
Two houses on 1 parcel, both homes rehabbed with recessed lighting,
upgraded kitchen, new laminate flooring, new windows, new paint inside and
out and new porch. Larger home is a 3 bed/1 bath, the smaller home is a 1
bed/1 bath, close to downtown. Light repairs needed.
Investor Price: $103,000 (Fee Included)
Monthly Cashflow
Expenses:
Taxes – $99
Maintenance -$250
Insurance – $130
Vacancies – $105
Total Operating Expenses= $584
Income:
Unit 1 (3bed/1bath) – $650 (With newly added 3rd bed, can easily rent for $850)
Unit 2 (1bed/1bath) – $600
Total Rental Income= $1,250 ($1,450)
Total Net Income:
Income= $1,250
Expenses= $584
Total Net Income= $666
Total Mortgage Breakdown:
Assumptions; 80% LTV ($79,200), 30 year amortization, 3.5% Interest rate, paid monthly.
Estimated Monthly Mortgage Payment= $354
Estimated Cash Needed= $19,800 + $2,000 (for closing costs) =$21,800
Total Free Cash Flow After Debt Service= $666 (Net Income)- $354 (Debt Service) =$312
Annual Free Cashflow= $3,744
Cash On Cash Return= 17.17%

Available on 08.17.2020

Don’t let this excellent opportunity pass you by! Get it yours now!

Make An Offer On This Property

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Price:
$103,000
Address:
1316 Gorham St
MOUNT DORA, Florida 32757
Square Feet:
1,112
Bedrooms:
4
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Multi-family
Year Built:
1930

Additional Features

1316 Gorham St MOUNT DORA, FL 32757. Amazing opportunity to own this home in a very desired location. Great investment Property is on an over-sized lot, larger than other properties close by. Don't miss out on the endless possibilities that this home has to offer.

Call (954) 280-5883 for more details

Property Location