For Sale By Owner
no broker, no middleman, direct deal is the best deal
Inquiries invited by email - jgd@freeVEDA.org
- 4-apartment house with 2-bay detached garage at 236 W. Ridley Ave., Norwood, PA
- 99 feet above sea level (39°52'41.45"N 75°18'10.47"W)
- near SEPTA bus routes and R2 commuter train to Philadelphia and Delaware
- retired owner is getting too old to deal with landlord responsibilities
- asking $250,000 - make an offer, inspection by appointment, email jgd@freeVEDA.org
- $290,000 value after painting, pointing and other maintenance
- ROI over 9% annually @((3,165*12-11,536)/290,000)
- assumable VA loan at 6% to a qualified Veteran, current balance under $148,000
- $3,165 monthly rental income, all units currently occupied, positive cash flow
- A1 - $800 (est.), A2 - $600, A3 - $850, A4 - $715, G1 - $100, G2 - $100
- retired owner lives in A1, willing to rent from new owner until new home found
- $11,536 annual operating costs
- $6953 real estate taxes and $1883 insurance paid in 2010
- central natural gas water heater (new 2011), AQUA and PECO below $100 monthly each
- grass-cutting at $30 per cut, weekly during growing season or when needed
- renters pay gas and electric utilities, renters may acquire RCN/Comcast/VerizonDSL
- each apartment has separate natural gas water-boiler heating system
- ample parking at rear of property, large wrap-around front porch with long-life flooring
- fire escape at rear, unfinished basement with concrete floor, storage shed
- a1 has front-load washer&dryer, new frige&electric range, window a/c in front room
- a2 painted in 2009
- a3 refurbished in 2009, has new frige&gas range, window a/c in living room
- a4 refurbished in 2011, has w/d, new gas range, 2 a/c in living room & a/c in bedroom