This large two apartment multi family home is located in Muskego Way on the Southside of Milwaukee. Just 3.5 miles from the Centre of Downtown Milwaukee. The property is divided into two large apartments, you have a large one bedroom apartment and a large two bedroom apartment. The one bedroom apartment has a good tenant in place paying $500 in rent each month. The two bedroom apartment is having a few small cosmetic repairs completed and the management company will place brand new tenants when the new owner closes on the property paying $650 – $700 each month.
This property is located in Muskego Way on the Southside of Milwaukee which is only 3.5 miles from downtown. Muskego Way is right next to Bay View, Home to one of the city’s most popular bar districts, it’s also a hotbed of local art and creativity with gallery nights and a thriving farmers market. The area is famous for lakefront trails, many neighbourhood parks and great music venues.
Purchase price: 52,900
Gross annual rental income: $14,400
Property running costs: $3,299
(Tax, insurance and management costs)
Net annual rental income: $11,101
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%
Break even in 4.76 Years