Multi-Family Properties for Sale

24 Parlin Street, Everett, MA 02149

$559,000

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Nice 2 Family House, Close to Restaurants, Shops and Transportation to Wellington & Sullivan T Stations. Hardwood Floors Throughout! Separate Utilities. UNIT 1 has Kitchen, Dining + Living Room and 1 bedroom plus 1 Bath, UNIT 2 has Kitchen, Living Room and 2 bedrooms, plus 1 bath, Enclosed porch. 2ND Floor was remodeled in 2014. 3RD FLoor Attic has 2 plus ROOMS - Additional Living Space, Newer Windows on 1st + 2nd Floors, Owned by the same family for 70+ years, Parking for 4 Cars Tandem in DRIVEWAY! Large Fenced in BACKYARD. Offers if any due by Monday 5:00 pm.

INVESTMENT HIGHLIGHTS

List Price

$559,000

Gross Living Area

2,591 Sq.Ft.

Price per Sq.ft.

$216

Number of Units

2

Price per Unit

$279,500

Taxes

$5,843

Down Payment 25%

$139,750

Loan Amount

$419,250

Monthly Payment 4.5%

$2,124

Net Operating Income

$23,429

Annual Cash Flow

($2,059)

Cash on Cash Return

-1.5%

Cap Rate

4.2%

Condo Conversion Equity

$106,887

Year Built

1880

Lot Size

5,410 Sq.Ft.

Basement

Y

Assessed Value

$424,000

Bedroms

4

Bathrooms

2 full / 0 half

Parking Spaces

4

Garage Spaces

0

ANNUAL INCOME & EXPENSE BREAKDOWN

Income

Projected

Gross Scheduled Rent

$33,936

Less 5.0% Vacancy

$1,697

Net Rental Income

$32,239

Other Income

$0

Total Operating Income

$32,239

Expenses

Projected

Real Estate Taxes

$5,843

Insurance

$1,500

Water/Sewer

$500

Heat

$0

Electric

$0

Trash Removal

$0

Management Fee

$0

Maintenance/Repairs

$967

Total Operating Expenses

$8,810

Net Operating Income

$23,429

Less Debt Service

$25,488

Potential Net Cash Flow

($2,059)

Cash on Cash Return

-1.5%

Cap Rate

4.2%

Condo Conversion Equity

$106,887

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Disclaimer: We do not guarantee the accuracy of the numbers provided are 100% accurate. But we are saying these are in fact rough estimates that you can use as a tool to help decide whether or not you’d like to continue to learn more about the property or not. We recommend doing your own due diligence or having a one of our agents do the leg work for you. There are just too many factors that can affect any of the projected numbers listed on any property on our website. Such factors beyond our control include but are not limited to: Financing Terms, Tax Rates, Overall Condition of Property, Investors ability to operate and manage property and tenants effectively.

This property is listed by Maria DiPierro of Patriot Real Estate. The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.