Yes, you can still find a rental property that beats the 1% rule! Fully leased, 4-unit apartment building in Uptown New Albany with numbers that work: $3140 per month in rent income, which is $37,680 a year. A cash-on-cash return like this is hard to find right now. All four units have been updated in some way within the last two years. A floorplan is provided showing the three 1-bedroom units and one studio (combined bedroom and living room). Each unit has its own furnace and separate gas and electric meters. Tenants pay gas and electric. Unit 2 has a washer and dryer. There is off-street parking for 4 cars (rare for an uptown 4-plex), plus a grassy yard for playing and dog walking. With a full-price offer, seller will contribute up to $5,000 towards an interest rate buydown or other buyer closing costs that the lender allows, plus a 1-year home warranty for peace of mind, and will do some repairs that the home inspector noted. Or you can get a discounted price by buying it as-is. A building floor plan, rent roll, tax record, income and expense summary, and a 2026 Certainty Home Inspection report are available, so you can be sure that viewing it in person would be a good use of time. Run the numbers on this one using your favorite investment calculator app - you’ll be glad you did. Ask your tax advisor how buying this before the end of the year can potentially save money on taxes. Or, you may be able to buy this with a 5% down payment if you use it as your primary residence.
Listing courtesy of Keller Williams Realty Consultants.