Little Rock, AR
Little Rock, AR 72205
Buy & Hold
This is a 4-plex with 4 identical 1 bed/ 1 bath apartments. We purchased it for $159,000 with a loan from a bank using 1031 Exchange money for the down payment of $31,800. We wrapped the cost to remodel ($28,000) into the loan.
After the remodel, the rental income is $2,380/mo. ($595 each). Debt service and expenses are $1,598/mo. Net Cash Flow is $782/mo. ($9,384/yr.) Our ROI is infinity since we did not use our own capital for this investment.