This property is not just a building but a turnkey solution for steady cash flow and low maintenance concerns, all set in a bustling downtown area. Bringing in $3,000 a month. Ideal for investors seeking a blend of steady income and growth potential or a business owner looking for a prime location with added rental income. Monthly Expenses:Taxes:Summer: $3,400Winter: $600Annual Taxes: $3,400 + $600 = $4,000Monthly Taxes: $4,000 / 12 Ë? $333.33Total Monthly Expenses:Taxes: $333.33Insurance: $129Lawn care: $40Gas: $170Water (quarterly divided by 3): $88Total Monthly Expenses: $760.33Net Operating Income (NOI):Monthly NOI:NOI = Total Monthly Rent Income - Total Monthly ExpensesNOI = $3,000 - $760.33 Ë? $2,239.67Annual NOI:Annual NOI = Monthly NOI * 12Annual NOI = $2,239.67 * 12 Ë? $26,876.04Return on Investment (ROI):ROI:ROI = (Annual NOI / Initial Investment) * 100ROI = ($26,876.04 / $260,000) * 100 Ë? 10.34%SummaryMonthly Net Operating Income (NOI): $2,239.67Annual Net Operating Income (NOI): $26,876.04Annual ROI: Approximately 10.34%This updated calculation incorporates the correct tax information and confirms the property's profitability with an annual return on investment of about 10.34%. **VIRTUAL TOUR** https://next-door-photos.vr-360-tour.com/e/PgYBj5uWZHE/e?accessibility=false&dimensions=false&hidelive=true&share_button=false&t_3d_model_dimensions=false
Auburn is located in Michigan. Auburn, Michigan has a population of 1,934. Auburn is less family-centric than the surrounding county with 15.8% of the households containing married families with children. The county average for households married with children is 24.51%.
The median household income in Auburn, Michigan is $52,794. The median household income for the surrounding county is $45,983 compared to the national median of $57,652. The median age of people living in Auburn is 43.3 years.
The average high temperature in July is 82 degrees, with an average low temperature in January of 14.2 degrees. The average rainfall is approximately 32.2 inches per year, with 40.9 inches of snow per year.
