Key Features - - FULLY RENTED
- - NEW ROOF
- - PROFESSIONAL PROPERTY MANAGEMENT COMPANY
- - CASH FLOW WITHOUT THE HEADACHE
Nice inside and out. NEW ROOF, VINYL REPLACEMENT WINDOWS, AND PAINTED EXTERIOR. Fully Rented and professionally managed single family home.
Full Description
About the Property:
Single family, 851Sqft, 2 bedroom, fully rented house. Built in 1865. Rents yeilding $635 gross per month. Rented and managed by a local, professional management company.
New roof and vinyl replacement windows.
Taxes are ONLY $1300 per year.
Property management fees are = to 12% of collected rents.
Cashflow in Rochester, NY:
Cash flow is one of the most important considerations investors face when making real estate purchases
Despite the fact that Rochester's population fell by 6.74 percent, from 219,773 to 204,963 between 2000 and 2006, and the fact that it has the highest rental vacancy on this list at 17.9 percent, Rochester still managed to claim the lead as the city with the best cash flow for investors. Homes in Rochester are affordable, at a median price of $67,600, and median monthly upkeep costs and estimated mortgage payments are low, at $418 and $341.82, respectively. The median gross rent in the area is $669.
About Rochester, NY:
Throughout the Greater Rochester, New York Region you will find homes full of character and charm. We have one of the largest collections of fine 19th and early 20th century homes in the Northeast, and you will be pleasantly surprised at the price.
Rochester houses are rich in architectural details and craftsmanship. The character of these homes extend into the suburbs along streets lined with sidewalks and streetlamps. Outlying suburbs feature newer, larger homes on generous lots in subdivisions, along with picturesque village homes built in the late 1800s.
Greater Rochester offers affordable housing
At $119,200, the median home sales price is 57.7% more affordable than the national average. Approximately 81.5% of area homes are affordable for our median income.
| Affordable Housing | U.S. | Rochester, NY MSA |
| Median Housing Sales Price* | $206,500 | $119,200 |
| Median Family Income** | $58,526 | $59,827 |
| National Affordability Rank*** | - | 37 |
| Owner Occupied Housing Units** | 67.3% | 69.7% |
| Median Cash Rent** | $763 | $694 |
| Homes Affordable for Median Income*** | 55% | 78.2% |
| Average Household Size** | 2.71 | 2.65 |
Sources:
*National Association of Realtors, Q2 2008
**US Census Bureau, 2006 American Community Survey
***NAHB Housing Opportunity Index, Q2 2008
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