boonville multi-family portfolioimages4.loopnet.com/d2/yp0utytasc-f3bua6d2c03xjognvr6mcb...324 moore...

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

PROPERTY OVERVIEWOutstanding mix of single, duplex, and triplex properties with greatcash flow. These properties are very well taken care of andmanaged, with one of the properties being completely rebuilt in2017. The package offers strong monthly rents and low cost ofoperation. Very attractive CAP and Cash on Cash return. Thispackage of properties would be make an ideal expansion of anexisting portfolio or ideal start for a new investor.

PROPERTY FEATURES12 Properties with 23 units

Mix of 1,2, and 3 bedroom units

Mix of Single Family, Duplex, Triplex, and Fourplex properties

$12,630 in scheduled monthly income ($151,560 annual)

SALE PRICE: $625,000

UNITS: 23

PROPERTIES 12

PRICE PER UNIT: $27,174

CAP RATE: 11.53%

GRM: 4.12

NOI: $72,046

BUILDING SIZE: 25,567 SF

ZONING: R-1 And R-2

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

INVESTMENT OVERVIEW 2017 PROFORMA FINANCIALS

Price $625,000

Price per Unit $27,173

GRM 4.1

CAP Rate 11.5%

Cash-on-Cash Return (yr 1) 49.98 %

Total Return (yr 1) $44,630

Debt Coverage Ratio 2.03

OPERATING DATA 2017 PROFORMA FINANCIALS

Gross Scheduled Income $151,560

Other Income -

Total Scheduled Income $151,560

Vacancy Cost $0

Gross Income $151,560

Operating Expenses $79,514

Net Operating Income $72,046

Pre-Tax Cash Flow $36,487

FINANCING DATA 2017 PROFORMA FINANCIALS

Down Payment $73,000

Loan Amount $552,000

Debt Service $35,559

Debt Service Monthly $2,963

Principal Reduction (yr 1) $8,143

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

INCOME SUMMARY 2017 PROFORMA FINANCIALS PER SF

Gross Collected Rents $151,560 $5.93

GROSS INCOME $151,560 $5.93

EXPENSE SUMMARY 2017 PROFORMA FINANCIALS PER SF

General Expense $23,569 $0.92

Utilities $43,964 $1.72

Taxes $11,981 $0.47

GROSS EXPENSES $79,514 $3.11

NET OPERATING INCOME $72,046 $2.82

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

110 N 3rd St A 2 1 $500

110 N 3rd St B 3 1 $500

1224 Washington A 2 2 $650

1224 Washington B 2 1 $600

1533 Maple Grove A 1 1 $550

1533 Maple Grove B 1 1 $550

1533 Maple Grove C 1 1 $550

204 E Gough A 2 1 $780

204 E Gough B 1 1 $650

204 E Gough C 1 1 $525

208 E Gough A 2 1 $550

208 E Gough B 2 1 $550

219 4th St A 3 1 $575

219 4th St A 3 1 $600

324 Moore St A 1 1 $550

324 Moore St B 1 1 $550

324 Moore St C 1 1 $550

324 Moore St D 1 1

408 S 3rd St 3 1 $750

517 Elm St A 2 1 $500

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

517 Elm St B 2 1 $600

707 S 5th St A 2 1 $450

707 S 5th St B 2 1 $550

$12,630

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

EVANSVILLE, IN812.422.40964004 E Morgan Ave,Ste. 200Evansville , IN 47715

evansvillerealestatefinder.com

CHARLIE BUTLERCommercial & Residential Broker812.430.1708cbutler@kwcommercial.comIN #RB14034751

JUSTIN LONGCommercial Broker812.453.7534justinlong@kwcommercial.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

* Demographic data derived from 2010 US Census

324 Moore St, Boonville, IN 47601

BOONVILLE MULTI-FAMILY PORTFOLIO

MULTIFAMILY FOR SALE

ETHNICITY 1 MILE 5 MILES 10 MILES

% HISPANIC 0.4% 0.6% 1.8%

RACE 1 MILE 5 MILES 10 MILES

% WHITE 92.1% 92.9% 94.1%

% BLACK 0.9% 1.0% 0.9%

% ASIAN 1.3% 1.2% 1.5%

% HAWAIIAN 0.0% 0.0% 0.0%

% INDIAN 0.0% 0.0% 0.1%

% OTHER 2.6% 2.7% 1.8%

POPULATION 1 MILE 5 MILES 10 MILES

TOTAL POPULATION 229 6,031 40,824

MEDIAN AGE 41.9 41.4 39.0

MEDIAN AGE (MALE) 42.0 41.3 38.2

MEDIAN AGE (FEMALE) 41.8 41.3 39.8

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

TOTAL HOUSEHOLDS 82 2,185 14,819

# OF PERSONS PER HH 2.8 2.8 2.8

AVERAGE HH INCOME $89,174 $84,742 $85,852

AVERAGE HOUSE VALUE $187,491 $179,164 $162,424