Lincoln Road, Windsor
- Pocket listing, off market Duplex
- Bought in CASH at asking price of $330,000
- Under rented 1 bed, 1 bath upper floor unit at $730/mth
- Vacant 2 bed 1 bath main floor unit
- Rear room was being used for furnace and water heater
- Relocated furnace and water heater to create a 3rd bedroom
- Updated / modernized the bathroom
- Refreshed the kitchen by painting cabinets, new counter and add a dishwasher
- New flooring in half the main floor
- Upper unit was untouched
- Although the upper unit tenant was underpaying she was an amazing tenant so her rent was raised to $760 and she will be responsible for maintenance (grass/snow)
- Main floor unit is rented for $1400
- Holding and reno costs of $38,000
- Property refinanced for a mortgage of $312,000
- Total rents $2,160.00, expenses $1625.00, cash flow $535.00
Before & After
