5 Turnkey Units in Waycross, GA! Currently operating at an 11% Cap Rate. Currently 4 of the 5 units are rented. Tenants pay electric. New roof installed in 2018. Owner only pays for water at $350 per month. Unit Break Down of Rents: Unit 1:2/1 Rented for $800 per month Unit 2:1/2 Rented for $800 per month Unit 3:2/1 Rented for $750 per month Unit 4:1/1 Rented for $650 per month Unit 5:2/2 Currently Vacant. Rental Comps $800 to $850 per month Annual Expense Analysis (Proposed): Taxes: $5,746 Insurance: $3,000 Building Maintenance: $1,410 Interior/Exterior Decorating: $940 Cleaning/Supplies: $940 Replacement Reserves: Flooring: $430 Appliances: $307 (Appliances have an estimated life of 15 years) HVAC: $400 (A/C has an estimated life of 20 years) Total: $13,173 INCOME APPROACH: Total Gross Annual Economic Income (See Rent Schedule) $47,400 Less Forecasted Vacancy and Collection Loss ( 5% ) $2,370 Effective Gross Annual Income $45,030 Less Forecasted Annual Expenses and Replacement Reserves ( 27.79% of Total Gross Annual Economic Income) $13,173 Net Annual Income from Total Property $31,857 The estimated cap rate is 11%. Therefore, $31,857 / 11% = $289,609 Indicated Value by the Cost Approach: $394,000 Indicated Value by the Market Approach: $412,000 Indicated Value by the Income Approach: $290,000