1116 Ash Avenue, Richton, MS

19.04% return

SP: $419,900

Video Photos Street View Map

The slide show is now full screen. Push Escape to exit. You can use the left/right arrows and Home/End buttons to navigate the images.

Property Description

AWESOME 12 UNITS!!!

6 duplexes on one parcel. Solid Brick. 4 x 3bed/1bath, 6 x 2bed/1bath, 2 x 1bed/1bath. Separate electric, water and gas meters. Units rent for $800, $700 and $600. Nice tenants. WILL GENERATE A 19%+ NET RETURN ON INVESTMENT!!!! Landlord friendly state. Do not miss out on this opportunity.

Property management and financing is available.

Property Information

Listing statusActive
Property typeMulti Family
Total units12
Total bedrooms26
Total bathrooms12
Building size9,780 sq. ft.
Lot size1.6 acres
Year built1954

CountyPerry County
SubdivisionRichton Irregular Plots
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWindow Unit
CoolingCentral

Property Financial Summary

Sale price$419,900
Estimated rehab¹$0
Total investment$419,900

TypeProforma

Gross income (annually)$103,200
Operating expenses (annually)$23,259
Net income (annually)$79,941
Gross return24.58%

Gross income (monthly)$8,600
Operating expenses (monthly)$1,938
Net income (monthly)$6,662
Net return19.04%

Property Income & ExpensesMonthlyAnnual

Income

Building 1
Unit 200: 3 bed / 1 bath$800/month$9,600/year
Unit 201: 2 bed / 1 bath$700/month$8,400/year
Building 2
Unit 202: 2 bed / 1 bath$700/month$8,400/year
Unit 203: 3 bed / 1 bath$800/month$9,600/year
Building 3
Unit 204: 3 bed / 1 bath$800/month$9,600/year
Unit 205: 2 bed / 1 bath$700/month$8,400/year
Building 4
Unit 206: 2 bed / 1 bath$700/month$8,400/year
Unit 207: 3 bed / 1 bath$800/month$9,600/year
Building 5
Unit 208: 1 bed / 1 bath$600/month$7,200/year
Unit 209: 2 bed / 1 bath$700/month$8,400/year
Building 6
Unit 210: 1 bed / 1 bath$600/month$7,200/year
Unit 211: 2 bed / 1 bath$700/month$8,400/year
Total$8,600/month$103,200/year

Expenses

Property Taxes$393/month$4,713/year
Waste Collection$249/month$2,988/year
Insurance$647/month$7,758/year
Maintenance reserve$500/month$6,000/year
Lawn care$150/month$1,800/year
Total$1,938/month$23,259/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.