Instant Cashflow, Multi-Family, Fully Rented

Description

Calling all investors, instant Cashflow! I am selling this contract on a money maker in this wholesale deal. The property is a 2 unit home in Niagara Falls (NY) which is fully rented, and brings in $1,000 a month. Other than the roof, there are a few cracked windows but mostly just cosmetic repairs/updates needed, so nothing that would impact your income coming in. The tenant in the upper unit has been there about 10 years and the tenant in the lower unit has been there for several years. Both tenants would like to stay if possible. Tenants are on a month to month lease.
The home has a newer furnace (approximately 5 years old), and the heat was changed from oil to gas at that time. The upstairs unit has baseboard heat and is electric. The lower unit has 4 bedrooms and the upper has 2.
The property is located in an area that has many shopping options, is filled with a lot of history and is close to both the US and Canadian Casinos. It's a great renter's area.
This property does not have a basement though, so when looking up comps we could not find any comparable properties without basements.
COMPS:
ADDRESS SALE PRICE BEDS BATH Ttl Sq Ft Sq Ft Lot CLOSED DATE
137 74th St $57,000 6 2 1/2 2,600 9,583 TBD
128 79th St $90,000 3 2 1,605 4,493 8/16/2018
215 79th St $90,000 4 2 1,728 5,920 3/2/2018
156-158 62nd St $92,500 4 2 1,848 1,848 1/11/2019
129 78th St $96,500 6 2 1/2 2,688 8,712 12/13/2018
656 70th St $122,300 5 2 1/2 2,120 6,648 12/20/2018
Selling price $56,500
Assignment Fee $500
Total $57,000
If you are interested we are able to schedule showing's to view the property, Tuesdays 5-7 and Saturdays 3-5.
Total view $80,401
Zillow $83,664 Value Range from $79,481 to $87,847

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