3635 W Melvin St APT 2, Phoenix, AZ 85009

Currently vacant and used as a duplex however it is zoned for single family and multi-family use. Items that need to be addressed include the roof, windows, plumbing, electrical and electrical panel as well as the fencing, landscaping and drywall. The tile and air ducts are in good condition. Gross potential: 1 bed 1 bath $500 per month x 12 = $6,000 + 2 bed 1 bath $650 per month x 12= $7,800 Combined= $13,800 gross rents for the year. $13,800 (gross rent for year) x 60% (we reduced 40% of profits for taxes, insurance, maintenance, and vacancies) =$8,280 net operating income for the year. Potential Return: $17,900 (purchase price) + $30,000 (repairs) + $2,000 (closing costs) = $49,900 total out of pocket.