8-unit residential portfolio in Princeton, California. The property consists of eight individual single family houses on one 40,000 square foot lot, totaling approximately 6,300 square feet of living space.
Unit mix: three 3-bedroom, 1-bath houses and five 2-bedroom, 1-bath houses.
Currently fully rented at $8,800 per month in combined rent(rent has not been increased since may of '25). Connected to city water and city sewer. Several units have been remodeled, and several have newer roofs.
Asking price: $895,000. Seller financing available with a decent down payment.
More financial information:
Purchase price: $895,000
Down payment (25%): $223,750
Loan: $671,250
Interest: 5.5%
Amortization: 25 years
Monthly mortgage: ˜ $4,122
Annual mortgage: ˜ $49,465
Gross rental income: $105,600/year
Operating expenses: $26,624/year
Net Operating Income (NOI):
$105,600 - $26,624 = $78,976/year
Cash flow after mortgage:
$78,976 - $49,465 = $29,511/year
That's approximately $2,459/month positive cash flow.
NOI $78,976
Cap rate 8.82%
Annual cash flow after debt $29,511
Monthly cash flow $2,459
Down payment $223,750
Cash-on-cash return 13.19%