4 Family Home INVESTMENT OPPORTUNITY Investment Real Estate Auction!
Friday, August 16, 2013 at 5:30 PM * Preview Begins at 4 PM
4 Family Home for AuctionAuction On-Site: 100 Louisa St. Binghamton, NY 13904 (Broome County)(city of Binghamton)
For out of state owner * 2 Furnaces/ Sep. elec. & hot water
Legal 4 Family Home (4- 2 BR’s) on WONDERFUL LOT never flooded! Built new in 1980!
Directions: From Interstate 81: take EXIT 5 Front St.: Go South on Front St. (.5) miles to LEFT on Bevier St. Go (.8) miles keep right @ Fork to slight RIGHT on Broad Ave. Go (.2) miles to 2nd LEFT on Hill St. Go to 1st RIGHT on Louisa St. Auction is THERE. Signs posted.
Real Estate Open House: Tuesday August 13th from 4 – 5:30 PM & 1.5 hours prior to auction. Walk the lot at your convenience.
Electric MetersReal Estate: A structurally sound 2- story 3,120 total rentable SQFTLA 4 Family home w/ 8 BR’s & 4 baths. (4) 2 BR Aptmts all the same w/ 2 furnaces and tenants paying elec. Parks next door just around the corner!
Zoned 4 Family w/ concrete slab on grade construction, laundry room, vinyl sided, newer roof, paved driveway & shed/ storage area for each unit. Located ON a 105.5’x 69x 130’x 73’ corner lot w/ low maintenance costs! A nice investment property to own! Sells w/ all appliances included. Completely TURNKEY ! ! A MONEY MAKER!
CASH FLOW PRO FORMA:
Income: (each unit has same layout and rents could be higher)
Apt 1= $550/ month (month to month- NO LEASE)
Apt 2= $450/ month (includes discount to mow lawn) (month to month- NO LEASE)
Apt 3= $500/ month (includes discount for maintenance work) (month to month- NO LEASE)
Apt 4= $550/ month (month to month- NO LEASE)
Total= $2050/ month = $24,600/ year
Less vacancy factor = 2,050 = gross rent per year = $22,550
Expenses: heat included, water & garbage included, tenant responsible for electric and hot water. Each unit has separate elec. water heaters
Taxes – $7,590 (includes sewer & weekly garbage collection)
Heat – $1,800
Insurance – $1,418
Repairs & Maintenance – $0 (included in rent discount apt 2 & 3)
Water/garbage – $1200
Total – $ 12,008
Net Operating Profit (assuming no debt payments which will vary to new owner(s) $22,500 – 12,008 = $10,492 ! !
Tax map #: (88.19-01-55.000)
Built in 1980
3,120 total rentable SFLA
total assessed @ $87,400
property class= 411- 4 family
Binghamton school district
2012 Taxes paid by seller
County/Town/City/School TOTAL TAXES: $7,590
Sells w/ public water, public sewer, good roof, nice private back yard, nice landscaping, sidewalks, forced air heat, lots of parking (6 spaces), gas & electric utilities, vented plumbing, digital thermostats, 2 tempstar gas furnaces, very well insulated, hardwood staircase, sep. breaker boxes & 4 separate mailing addresses.
Standard Real Estate Auction Terms: 10% Buyer’s Premium added to final bid to equal the Total Purchase Price. 20% down on day of auction, with the remainder due at closing within 45 days. Time is of the essence. Bargain and sale Deed. Property sells “As Is, Where Is”. All test required must be done prior to auction day. All statements at auction take precedence over printed material. Real estate to be sold free & clear with NO liens, NO back mortgages & NO back taxes owed! Auctioneer agency represent s only the sellers. Lead paint may exist. Liquidation for out of state owner (VA).
Zogg Brothers Note: An outstanding opportunity to buy an investment property ! INVEST IN REAL ESTATE, you will be glad you did! Peaceful quiet neighborhood. Come and bid your price the AUCTION WAY! Binghamton, NY auction, Binghamton, NY auctioneers, Binghamton, NY area auction, Broome County real estate auctions, Broome county auctions, Broome county auctioneers, NY state auctioneers, southern tier, NY auctioneers, Binghamton, NY, Binghamton, NY estate auctioneers, Broome county estate auctioneers, greater Binghamton, NY region auctioneers! Auctions always wanted.