418 Marcus L Butler Drive, Jackson, MS

15.42% return

SP: $249,900

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Property Description

TURNKEY QUAD!!!

Fully rehabbed. 4 units total. Each unit is 3bed/2bath!!! Brick. Separate electric and water meters. Units will rent for over $1000 each!!! Central heat and air. City water and swer. PROPERTY WILL GENERATE A 15%+ NET RETURN ON INVESTMENT!!! This is perfect for an out of state investor.

Financing and property management is available.

Property Information

Listing statusActive
Property typeMulti Family
Total units4
Total bedrooms12
Total bathrooms8
Building size3,840 sq. ft.
Lot size0.3 acres
Year built1989

CountyHinds County
Subdivision468
ConstructionBrick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral

Property Financial Summary

Sale price$249,900
Estimated rehab¹$0
Total investment$249,900

TypeProforma

Gross income (annually)$48,000
Operating expenses (annually)$9,464
Net income (annually)$38,536
Gross return19.21%

Gross income (monthly)$4,000
Operating expenses (monthly)$789
Net income (monthly)$3,211
Net return15.42%

Property Income & ExpensesMonthlyAnnual

Income

Unit A: 3 bed / 2 bath$1,000/month$12,000/year
Unit B: 3 bed / 2 bath$1,000/month$12,000/year
Unit C: 3 bed / 2 bath$1,000/month$12,000/year
Unit D: 3 bed / 2 bath$1,000/month$12,000/year
Total$4,000/month$48,000/year

Expenses

Property Taxes$88/month$1,053/year
Insurance$308/month$3,691/year
Maintenance reserve$333/month$4,000/year
Lawn care$60/month$720/year
Total$789/month$9,464/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.