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FSU Rental Home Package
This high equity opportunity is made up of 14 properties, 9 of which are located in Tallahassee, Florida all within a 5 to 10 minute radius of Florida State University. Out of these 9 properties, 7 are single family homes, 1 is a duplex, and 1 a condo. The other 6 properties are located just beyond the outskirts of Tallahassee in the cities of Quincy and Gretna, Florida. 3 of these are single family homes, 1 is a mobile home, and the other is vacant land.
This package is currently generating $4325 in monthly income with one property in eviction, 2 homes vacant, and 3 tenants in arrears. Once fully performing, we anticipate a conservative monthly rental income between $7800 to $8200, well over a 12% yield.
This package makes for a great opportunity for an investor looking for a mostly performing rental portfolio with a big upside and big equity built in. The majority of the homes are located in solid flip areas as well, so we've included some comparable sales in the area to show what some of these homes can sell for at retail. We've given this package a conservative retail value of $700,000. Please contact your EquityPro Advisor for additional details.