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$97,000 / 4br - 2324ft2 - Spacious House - 749-751 Railroad Street (Springdale)
749-751 Railroad St, Springdale, PA 15144
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Lot Size: 9,600 SQF
House Size: 2,324 SQF
Bedroom: 4
Bathroom: 2
Sustainable money-maker in an excellent area.
15.75%+ cap rate after a refresh.
Huge upside on this one.
_____
Large side-by-side 2-story units ~1,200 sqFt each
Off-street parking
Central heat
1 unit recently vacant
1 unit is a great, very long-term (27 years) month-to-month tenant (much room for growth)
Est. $42-46k to rent-ready status -- looking at some repairs, updating windows, 1 kitchen, 1 bath, flooring/carpet, paint, etc. + a good handful of heavy cosmetics (personally scrutinized breakdown available)
Market rent would then cap around 15¾%
Tenants supply their own appliances
Property Features & Updates
Taxes: $2,167
Electric: Updated
Plumbing: Updated
Kitchen:(1) Good; (1) Needs updating
Bath: (1) Good; (1) Needs updating
Roof: 10-15 yrs old
Furnace: (2) Old/older
Hot Water Tank: ≈3½ yrs old
Windows: (≈20) Need replacing
Rooms: (2) 2 BR / 1 BA
Floors: 2
Parking: Off-street (grassy parking slab)
Rental Income: (1) Vacant; (1) $735/month (mo.-to-mo.)
Rental Potential: $2,250 total ($1,125/unit)
Jim Fredo
Spring Direct Properties, LLC
1388 Freeport Rd, Ste 105, Pittsburgh, PA 15238
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PA Real Estate License: LLC - RB070410, Personal - RS383456