Assignment Price: $220,000 + CC
Estimated CMV: $270,000
Price Per Door: $20,000
Price Per Sq Ft: $33/SF
Address: 220 3rd St NW, Mason City, IA 50401
Type: 11-Unit Multifamily
Beds / Baths: 13 Beds / 11 Baths
Square Footage (Building): 6,545 sq ft
Lot Size: 10,977 sq ft
Occupancy: 9 occupied / 2 vacant
Condition: 9 stabilized units; 2 gutted units ready for rehab
Total Monthly Rent: $5,540
2 units currently vacant (projected $500 each = +$1,000 with stabilization)
Pro-Forma Rent (Fully Stabilized): $6,540/month
Scope:
Gross Income: $5,540/mo
Operating Expenses: $2,455/mo
Current NOI:
Current Cap Rate:
16.8% at $220,000
Gross Income: $6,540/mo
Operating Expenses: $2,455/mo
Pro-Forma NOI:
Pro-Forma Cap Rate:
22.3% at $220,000
Using stated P&I: $1,100/mo
Strong ratios for DSCR loans, BRRRR refi, or long-term portfolio financing.
📞 TEXT OR CALL BEVANS & BOMBICH LLC FOR A SHOWING TODAY: 737-399-2575
PROPERTY SOLD AS IS | EMD $5000
DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with memorandum has been signed with the Seller granting this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempt to renegotiate or communicate with the seller directly will result in legal action.
2 Bedrooms | 1.5 Baths | 1,083 ft
