47 Dolson Avenue, Middletown, NY
Multi-family for Sale - $524,900
Property Info
CIMLS# | 1081644 |
Location 47 Dolson Avenue Middletown NY 10940 | |
Updated | November 21st, 2020 |
Type | Multi-family |
Price | $524,900 |
Property Description
This fabulous investment opportunity located on the comer of Dolson Avenue and Bennett St includes a
Financials
45, 47 Bennett and 36, 38 Dolson
Income
Tenant Income Amount Notes and Calculations
Actual Rent
Unit 3 $15,000.00 36 Bennett 4 bedroom bottom floor tenant has been there 15-20 years
Unit 4 $10,800.00 36 Bennett 2 bedroom upper floor tenant has been there 10 years
Unit 5 $10,200.00 47 Bennett 1200 Sq Ft commercial unit
Unit 6 $10,200.00 47 Bennett 700 Sq Ft commercial unit
Unit 7 $10,800.00 47 Bennett 2 bedroom upper floor tenant has been there 7 plus years
Total Tenant Income $82,800.00
Vacancy Contingency Adjustment (3%) -$2,484.00
Adjusted Tenant Income $80,316.00
Total Gross Income $80,316.00
Operating Expenses (paid by owner)
Real Estate Taxes $24,447.00
Insurance $3,300.00
Utilities $0.00 Paid by tenants
Oil / Gas $0.00 Paid by tenants
Electric $0.00 Paid by tenants
Water $3,400.00
Sewer $0.00
Other $0.00
Contract Services
Rubbish Removal $0.00 Commercial units paid by tenants residential units included in taxes
Landscaping $2,000.00 Yearly Estimated
Snow Removal $2,000.00 Yearly Estimated
Heating and Air Conditioning Services $0.00
Septic Services $0.00
Other Maintenance Services $0.00
Accounting $500.00 Yearly Estimated
Legal $0.00
Other Professional Services $0.00
Payroll $0.00
Management $600.00 Yearly city inspection
Repair and Maintenance (5%) -$4,016.00
Total Operating Expense $32,231.00
Net Operating Income $48,085.00
Cap Rate .062 Market Value $775,000.00