Government-backed tenant (USPS) who pays $16,800 per year. Cap rate will increase in 2027 when new five-year lease for $20,400 per year begins in late 2027. USPS pays for all utilities, lawn maintenance, and snow removal. Upgrades include new siding and windows in 2014. New flooring in 2022. New electrical panel, roof, and Generac generator in 2025. Property is low management and needs no current upgrades.
Residential income forecasted to return an estimated $30,000 per year. 1750 square feet residence is currently owner occupied. Owner may be willing to consider leasing for the first year after purchase. Many upgrades to the residential property and currently move-in ready. New roof and siding in 2013.
Corner lot of property includes a sign rented for $900 per year by separate business.
Operating expenses are based on mortgage, business policy, and homeowner policy.