|118 NW 7th Ave, Dania Beach FL 33004|
Main house with mother in laws cottage. On lockbox easy to show main house. Cottage has tenant do not disturb please. Tenant has been there 3 years pays $1000 a month - same rent last three years. House should be about $1900-$2000 per month. Therefore total projected revenues are $34,800. With a 30% cash down ($94,500) and a mortgage of about $220,000, total expenses projected are about $20,000 (taxes: $6,300, mortgage interest $8800, insurance $4000, repairs $1000). Net profit is $14,800. For a cash on cash ROI of about 16%. That doesn't include appreciation or rental price increases over time. Hard to beat that ROI - especially in an up and coming area like Dania with Dania Pointe so close by. Seller is open to some seller financing. Property also has storage area.