I know it's kind of ugly, but that doesn't mean it won't rent and make you money, and you'll own a iconic piece of early Prescott Valley. Seriously, where can you find cool architecture like that around here. According to the owner, and I think it is accurate, that this will rent easily at $450/month. If that's the case, it will make approx $10,800/year. Take 25% off for maintenance, property tax, insurance, and other cost, and you'll clear $8100/year. That over an 11% CAP rate. A capitalization(CAP) rate is calculated by divided your income by the purchase price, in this case, $8,100/$71,500. And that is if you pay full price. It's been on the market over a month, and it the foreclosure world, that's old. Here is a link for more details,
http://www.paarmls.org/prs/
As always, if you have any interest in this or any other real estate, buying or selling, I would really appreciate having the opportunity to earn you business and confidence. Call or text me at 928-925-6050, or email at jpmaneely@kw.com.
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