Photos Link
*GIS Map and Floor Plans Included
https://photos.app.goo.gl/h9oe2RCGHAfgsPUEA
Buy & Hold Overview
Current
- Gross Rents: $1,200
- Annual NOI: $7,200
- Cap Rate: 9%
- Cash on Cash Return: 5.9%
- Lease Type: Month to month
Projected
- Gross Rents: $1,850 per month
- Annual NOI: $13,440
- Cap Rate: 16.8%
- Cash on Cash Return: 14%
- ARV (After Repair Value): $150,000
- Repair Estimate: 30k
- Equity After Stabilized: 40k
Highlights
- Fully rented duplex! 2 car garage, newer roof and high efficiency furnace!
- 0% interest seller finance
- 16.8 cap rate and 14% cash on cash return!
Repair Estimate
Total Estimated Repair Range: 22k-35k
Current & Estimated Rental Analysis
Utilities
- Heat: Tenants pay
- Electric: Tenants pay
- Water/Sewer: $125 monthly
- Trash: $50 monthly
Property Details
- Beds: 3
- Baths: 2
- Square Footage: 2062 SF
- Lot Size: 3039 sq ft
- Zoning: Residential
- Heat: Gas
- Electric: 100 amp each unit
- Plumbing: Pex and cooper
- Water: Public
- Sewer: Public
- Roof: Shingle
- Foundation: Stone
- Windows: Wood and vinyl
- Garage: 2 car garage
- Flooring: Hardwood and tile
- Mold Noted: N/A
- Water Damage: N/A
- Taxes: $1031
Comparable Sales/CMA
*we recommend any potential investor do their own due diligence and use these as a point of reference only
ARV (After Repair Value) Comps:
Zillow – 15 16th Ave, Altoona, PA
4 beds, 2 bath, 2700 sqft
Sold for $184,900 on August 16, 2024
PPSF (Price Per Square Foot): $68
ARV (After Repair Value) Estimate
Average PPSF: 68
Subject Property Sqft: 2062
ARV Estimate: $140k
Estimated Market Rents
Rent-o-Meter:
https://drive.google.com/file/d/1hTNkcGQ8XnIf0yNHcjTu_QciUyLl_fOT/view?usp=sharing
- Average Rents
- 2 bed, 1 bath: $1000
https://drive.google.com/file/d/1K0hojJZQ88OcUHcMIiI_b2f8yr5vxWMr/view?usp=sharing
- Average Rents
- 1 bed, 1 bath: $850
Town Overview
Altoona Pennsylvania
- Economic/Jobs: Altoona’s economy is anchored by healthcare, manufacturing, and retail, with major employers such as UPMC Altoona and Sheetz providing stable local employment.
- Education: The area is served by Altoona Area School District and nearby Penn State Altoona, supporting workforce and long-term housing demand.
- Lifestyle & Amenities: Altoona offers affordable living with access to parks, shopping, dining, and local attractions, providing a comfortable small-city lifestyle.
- Transport Links: The city is accessible via U.S. Route 220 and I-99, with Amtrak service and a regional airport connecting Altoona to surrounding markets.
For more details on Altoona’s attractions and local resources, visit:
Contact Us to Schedule a Walkthrough
The Melito & Koch Team
- Kyle Colby Direct Line: 814-800-4076
- Kyle Colby Email: kyle@melitoandkoch.com
- Website: melitoandkoch.com
- Facebook: The Melito & Koch Team
Disclosures
- ORAL CONSUMER NOTICE:
- The Real Estate Law requires that I provide you with a written notice that describes the various business relationship choices that you may have with a real estate licensee. Since we are discussing real estate without you having the benefit of the consumer notice, I have the duty to advise you that any information you give me at this time is not considered to be confidential, and any information you give me will not be considered confidential unless and until you and I enter into a business relationship. At our first meeting I will provide you with a written consumer notice which explains those business relationships and my corresponding duties to you.
- HOLD HARMLESS ACKNOWLEDGEMENT:
- The information contained in this email, including attachments, is confidential and may be legally privileged. It is intended solely for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, please notify the sender immediately and delete this email. Real estate investment carries inherent risk, and this email does not constitute legal or financial advice. While I strive to provide accurate and up-to-date information, I make no warranties regarding the correctness of the data or the viability of the investment strategies discussed. By using the information provided, you agree to hold harmless The Morrow Wargo Group, Realty ONE Group Supreme, or any other entity related to our relationship- for any reliance on the content of this correspondence. Investment decisions should be made based on your own due diligence and consultation with financial and legal advisors. As a real estate agent, I provide services to assist in purchasing properties and analyzing data; however, the ultimate responsibility for investment decisions lies with the investor.
- DUE DILIGENCE:
- This deal must be analyzed individually. Investment returns are not guaranteed. All investors should conduct their due diligence. The Melito & Koch Team, Realty ONE Group Supreme, and associated parties are not liable for any inaccuracies or reliance on this information.
