4 Duplexes on 2 large lots Great Cash Flow

Monthly Gross Rents: $5,105
Annual Gross Rents: $61,260
Rents below market average: All 2/1 with laundry rooms and screened front porches
range $600-$700 majority $650

Taxes: 2009 $7,411 (2010 lowered to $6,000)
Insurance: $6,363
Utilities: $14 per month
(owner pays private street light)

Unit Sq. Ft. 708 + 99 screened front porch+ 47 for
laundry room
Lot Size: 27,258

Gross Rental Multiplier: 6.8

Built 1956 Effective Age 36

2008 Income: $50,457
2008 Expenses: $33,059
2008 NOI: $18,398

Full Projected Rents: $61,260
Vacancy %: 17.6% (artificially high due to stringent credit checks as property was being used for tax write-off not income.)