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1225 Vincennes Street
New Albany, IN 47150
Asking Price
$450K
Cap Rate
8.5%
Asset Type
Single Family Rental Portfolio Multifamily
Class
Class B
What's Special
Turnkey 8-unit with immediate cash flow and room to grow rents — plus expansion potential on-site. <p>Currently 75% occupied with varying rent rates and clear room to grow rents — lease the remaining units and bring rates to market for instant value-add. Even more upside: an unused garage and additional space to build out next to the Dollar Store offer expansion potential, and the City of New Albany is slated to update the sidewalks and street along Vincennes — improvements coming right to your doorstep.</p>
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NOI
$80,000
Cap Rate
17.78%
DSCR
2.99
Strong
Cash-on-Cash
39.47%
Monthly Payment
$2,226.354
Annual Cash Flow
$53,283.746
