983 29th Street
Ogden, Utah

983 29th Street
Ogden, Utah

Acquisition

• Purchase price: $200,000.00
• Debt: $0
• Gross Scheduled Rents: $1,400
• Annual Taxes: $2,326.80
• Property management: 8%
• NOI: $1,196.00
• Cash on Cash: 7.1%

Property Description

• Subject is brick construction 2 unit property. Unit 1 features 4 bedrooms and 2 bathrooms, the 2^nd unit is a 2 bedroom 1 bathroom.

Rents

Rents are at fair market value with one unit re-leased after Covid-19

Strategy

This property is performing well at current rents, although rents are below market. The property does have some deferred maintenance, after tenants vacate the units will be rehabbed to increase rents. Purchase price was well below market, per redfin current market value is $310,000.