All brick building with 3 apartments, fully rented. Buy the property as a cash flow producing investment with a CAP rate of 20%! The gross annual rent income is $33,600 and total expenses are $8,700 (tax, water, sewer, garbage and insurance) netting an annual income of $24,900. That is a return of 20% before leveraging any financing! Or live in one apartment yourself while keeping the other 2 rented. This brings the net income to $14,700 and a yearly cash flow of around $7,500 and that is after the mortgage is paid. Live for free AND get paid!
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