Perfect for first time investors or home buyers! Built in 2004 New condition with a landscaped yard in a beautiful new subdivision.

This property is conveniently located just outside of city limits (3.5 miles from Ferris State University). The neighborhood began development in 2004 and all of the houses are very new with young to middle aged families. It is an incorporated neighborhood with a very well planned design. Wooded forest surround this Riverwoods Subdivision providing safe and scenic streets and paths for walking, biking, and jogging with friends and family. This house is positioned on a large corner lot that is beautifully landscaped with flower beds, an elongated back yard, and a large black berry patch full of delicious berries to pick in the summer time. Trees surrounding the house provide ample privacy.

Details:

Each unit has 830 square foot of finished living area, plus 830 square foot of unfinished cement basement (1660 sq. ft. total per unit). Each unit has a one-car garage and a one car parking pad besides the driveway. The living room provides ample room for small gatherings of friends and family members around the TV or a board game.

The kitchen has a large window that provides lots of sunlight in addition to the recessed overhead lighting which provides generous lighting at night. With an over-range microwave, stove, dishwasher and refrigerator, this kitchen has all of the utensils to go with plenty of counter space and full oak cabinets with linoleum wood floor.

Each unit has two bedrooms with generous room for beds and furniture. The closets are large, with double sliding doors and extra clothes racks for closet organization. The bathroom has ceramic tile flooring.

Each unit has a large unfinished basement with multi-use possibilities. This space can be used as an exercise area, a game room for kids, storage etc. The washer and dryer are also located in the basement. This space is also ready to be finished and made into more bedrooms or a bathroom, and/or another living area. The utilities are completely separate including electric, propane, cable, telephone, and internet. Each unit also has a separate septic system.

Investment:

From an investment perspective, this duplex has an excellent record. It has required zero to no maintenance, and consistently brings in a rental income of $800 or more per unit (that means a gross income of $1600 per month or more). In a college town, finding renters has never been complicated. Our lease records show that the duplex has never been vacant for more than two days over the last three years. We collect a large damage deposit; and as a result, all tenants have kept the property in excellent condition.

Annual Expenses: $734 insurance

                              $150 maintenance

                              $2,866 taxes (year 2010)

Annual Income:    $19,200 ($800 per unit = $1,600/ month x 12 months)

Net income:         $15,450

For a video tour please visit:  http://www.youtube.com/watch?v=017vU8y_fBE