House - Villa in Syracuse - Propertyshowrooms.com - Ref 638401
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House/Villa Description
REF ADI7
BANK SHORT-SALE SO WILL TAKE TIME TO CLOSE BUT VERY GOOD OPORTUNITY IN AN EXCELLENT NORTHSIDE LOCATION
GROSS ANNUAL INCOME 38%
NET ANNUAL INCOME AFTER ANNUAL RUNNING EXPENCES 24%
Note; This property is fully let but the rents are VERY low at $350 + $450 for each apartment, they should be $550 - $600 per unit so once our management company takes over this property for the new owner they will raise the rents over a period of time to reflect the market value, so the financial details below reflect these figures.
This property is also a Short-sale which means that any sale has to be agreed by the sellers lending bank so a sale will take time to complete, up to three months, but it would be well worth the wait as the is in a very good rental, always easy to find tenants and is priced competitively, so if you are looking for a reliable investment, in a very good rental area and you are patient, contact us today.
KEY FEATURES
Asking price; $35,000 / £22,580 / 26,000
Gross annual return; $13,200/£8,516/9,777 38%
Net annual return after running costs; $8,580/£5,535/6,355 24%
TWO APARTMENTS (1 x 3 &1 x 2 Bedroom)
High rental Demand
Excellent North side location
Assessed value $55,000
Full management service provided
FINANCIAL DETAILS
Net rental yield after all annual running costs -
$13,200- $1,320 management - $1,000 insurance/water - $2,300 property tax $8,580)
Gross rental income per month - $1,100 / £710 / 815
Net rental income per month - $715 / £461 / 530
Buying expenses
The total purchase costs for this property are $4,000.You could own this property for $39,000, and not a cent more, approximately £25,161 / 28,888 with all buying, legal fees & commissions paid.
We will have the property surveyed, valued by an independent valuer and a full management report prepared for you on the property, the rent-ability and the tenants, THERE ARE NO HIDDEN EXTRAS, ALLTHIS IS INCLUDED IN THIS PRICE.
Approximate breakdown of purchase costs per property are as follows;
Legal costs: $1,200
Survey costs / Property report: $1,000
Commission / fees: $1,800
Please note that with the ever changing exchange rates we have used £1=$1.55 & 1= $1.35 for guidance only, as all property prices are set in USD.
We provide a complete purchasing service and will introduce the management that will maintain the property and collect the rent.
We will also source any property for our clients to suit their needs and budget.
Property Description
The Property: A detached, two apartment property (1 x 3 & 1 x 2 bed apartments).
The Location: The property is situated in a very good rental area of North Syracuse, about one mile to the west of the Destiny USA project, the Carousel Center and downtown Syracuse less than a mile away and Syracuse University the cities largest employer about a mile away.
Condition: This property is a new listing and has yet not been checked by our team in Syracuse, the listing agent says it is in good condition with new furnaces.
Occupancy rate: Very high, due to the location there will always be a demand for this property and it would be easy to find replacement tenants if needed.
Tenanted: YES, we only sell properties with a high rental demand.
Management of this property: A full management service will be provided with this property.
The City
Syracuse, USA; the City with Potential
Syracuse is a vibrant city with much to offer and, with the right advice on property types and areas, it offers great investment opportunities. One of the key considerations to assure demand for your rental property is LOCATION.
The city boasts a University, a variety of schools, several hospitals, shopping malls, an airport and also the multi-billion dollar Destiny USA project. This is a major redevelopment project that will provide hotels, waterfront restaurants, office and retail space, which will attract additional business and employment to the city, the first phase of this project was completed in spring 09.
Market report
SYRACUSE IS PREDICTED TO HAVE THE SECOND STRONGEST HOUSING MARKET IN THE USA IN 2009 (FORBES.COM), full report available on our website
Property prices have not suffered in Syracuse, unlike many other areas in the USA, the reason being that prices have been historically low while offering excellent returns on investments. A full market report will be supplied upon request or can be found on our website
The Service we provide
American Dream Investments (ADI) specialize in sourcing high yield income properties in the area of Syracuse, Onondaga County, NY State, USA, for investors who are seeking a truly bespoke service tailor made to their individual requirements.
The company takes pride in offering properties that produce an annual income of approximately 20% net, after running costs have been deducted. The properties are situated in good locations with high rental demand and are offered at the lowest possible negotiated price.
ADI invite you to contact them and they will be delighted to answer any questions you may have regarding the advantages of investing in Syracuse and the benefits of the full purchase package and management service they offer.
Thank you for showing an interest in our investment property and we very much look forward to you contacting us in the future.
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€26,537 | £22,193 | US$35,000 (Currency and Foreign Exchange services supplied by  )
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| Type |
House/Villa |
| Bathrooms |
2 |
| Bedrooms |
5 |
| Category |
Re-Sale |
| Listed |
over 1 year ago |
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Map of Syracuse, New York, United States
Towns located close to Syracuse, United States
| • No other towns listed as being close to this town |
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Price: US$35,000
Currency in United States
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Latest Property News in USA
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Price of Property in Syracuse, USA
| (All prices in EUR) |
Syracuse |
Syracuse |
Syracuse |
| House/Villa |
13,625 |
23 |
57,500 |
75,000,000 |
37,000 |
242,990 |
| Commercial |
49,000 |
49,000 |
49,000 |
5,000,000 |
- |
- |
* Calculations based on 15 properties for sale in Syracuse and 2621 properties for sale in USA |
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