Targeting an acquisition at $80,000 for this 3,525 sqft property is significantly below current market valuations, as current estimates range from $450,000 to $454,000.
Key Considerations
HVAC Requirement: The property currently lacks cooling systems. Given the local 98th percentile temperature of 102°F, omitting HVAC upgrades will severely limit your ability to reach the estimated $3,364 monthly market rent and could hinder tenant retention.
Rental Potential: With a projected gross yield of 8.5%–9.1%, the property is a strong candidate for a long-term hold.
Renovation Focus: If you bypass HVAC, prioritize cosmetic refreshes to the 1,406 sqft finished basement and hardwood flooring to maintain property appeal.
| Metric | Projected Value |
| :--- | :--- |
| Monthly Rent Estimate | $3,364 |
| Annual Gross Income | $40,368 |
| Est. Market Yield | ~8.5% |
While your target entry price is aggressive, ensure your budget accounts for deferred maintenance common in 1960s builds to avoid excessive capital expenditures during the tenancy.