REDUCED!!! Now at a 9.41% Cap Rate!!!! Attention investors!!!! Here’s a 3 (maybe it could be 4 income generating units in total if you include the 1 car garage to the rear) property. New roof Feb of 2023! This unit has 3 apartments which are as follows: Apt 1: 1 Bedroom, 1 Bath $775 mo. to mo. written lease. Apt 2: 2 Bedrooms, 1 Bath $850 mo. to mo. written lease. Apt 3: 1 Bedroom, 1 Bath $625 mo. to mo. Unit 1 is located on the ground floor and has access to the basement. The exterior has 5 electrical boxes. Tenants pay all electric. Garage has it’s own electrical box. 1 Common area electrical box for owner. Owner pays all heat, water, sewer and garbage. Tenants pay electric. 1 Furnace in the bsmt is controlled by the tenant on the 1st floor. Owner pays for all hot water and cooking gas as well. This property provides a monthly rental cash flow of $2,250 per month which is $27,000 per year. Yearly Expenses: $12,901 Net Operating Income: $14,099. Cap Rate of 9.41%. Expenses are: Gas $3,302, Water $1,260, Sewer $1,260, Insurance $750, Maintenance $1,000, Vacancy Factor of 5% is $1,350, Code Inspections $450, Taxes $2,545, Garbage $984. All written leases can be downloaded - ask your Realtor® to look in the associated docs for more documentation. All tenants have been informed they will be notified of all showings. Please schedule showings between 9 AM and no later than 8 PM. West King Street is a wide street with updated public lamp lighting and recently paved very smooth streets. 1st floor unit with access to the basement could have a coin operated washer and dryer installed with some work. Some water in basement likely from alley way needing to be caulked. Unit 3 is only accessible via the rear metal fire escape. Unit 1 tenant has furniture in front of the door via the vestibule. Unit 1 and Unit 2 have front and rear accesses. Unit 3 is only accessible via the 3 story fire escape. Presently this property is being well managed by Yorktowne Property Shoppe which is located only a few blocks away from this property.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
5
/10
Mckinley School
600 Manor St
Distance between this listing and this school0.78 miles
Public District Grades KG-8
High School
1
/10
William Penn Senior High School
101 W College Ave
Distance between this listing and this school0.83 miles
Public District Grades 9-12
Assigned Schools
5
/10
Mckinley School
600 Manor St
Distance between this listing and this school0.78 miles
Public District Grades KG-8
Nearby Schools
4
/10
Lincoln Charter School
559 W King St
Distance between this listing and this school0.23 miles
Public Charter Grades KG-5
3
/10
Ferguson School
525 N Newberry St
Distance between this listing and this school0.93 miles
Public District Grades KG-8
Nearby Schools
4
/10
York Academy Regional Charter School
32 West North St
Distance between this listing and this school1.17 miles
Public Charter Grades KG-8
4
/10
West York Area Middle School
1700 Bannister St
Distance between this listing and this school1.22 miles
Public District Grades 6-8
4
/10
North Hills Elementary School
1330 N Hills Rd
Distance between this listing and this school3.26 miles
Public District Grades 4-6
Assigned Schools
1
/10
William Penn Senior High School
101 W College Ave
Distance between this listing and this school0.83 miles
Public District Grades 9-12
Nearby Schools
4
/10
West York Area High School
1800 Bannister St
Distance between this listing and this school1.10 miles
Public District Grades 9-12
1
/10
Crispus Attucks Youthbuild Charter School
605 S Duke St
Distance between this listing and this school1.23 miles
The neighbors living near this home have an average income of $29,900. Typical income of York, PA residents is less than $35k annually. Typical family type is single, no kids. The majority of residents in this area have high school diploma education.
This home is located at 704 W Princess St in York, PA and zip code 17401. This 2,298 square foot home, which was built in 1900, sits on a 0.04 acre lot. It has been listed on Rocket Homes since January 03, 2024 and is currently priced at $149,900.
Over 52 listings were sold over their listed price in April 2024 in York, PA. In the same period over 42 listings were sold below the listed price and 41 listings were sold for the listed price. Between March 2024 and April 2024, York, PA real estate market has seen decrease in the number of listings by 0.9%. While the average time on the market in April 2024 was 28 days, the median list price was $235,093.
From Rocket Homes Real Estate and based on county public records data.