Todd Keith

Five Stream Ventures LLC
972-836-7705

Discounted Investment Opportunity

2 Unit Duplex 

218 North 11th Street,
New Castle, Indiana 47362

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com

Table of Contents

    
Contents
Table of Contents    1
Investment Opportunity    2
Income and Expenses    2
Property Description    3
Property Highlights    3
Confidentiality    4
Disclaimer    4
Contact Information    4

This Property is offered for sale to qualified Buyers. Proof of funds is required with all offers.
Additional photos available upon request.

Investment Opportunity

Purchase Price:  $44,500                       Cost per door:  $22,250 

Building Class:    C

Location Class:   C 

Investment Benefits 
?    New Castle is a, county seat, city in Henry County, Indiana 
?    Solid Cash-Flowing Property
?    Pro forma cap rate 22.33%
?    Cash on cash return 45.5%
?    5-year annual ROI 81.5% per year
?    Great Investment Opportunity
?    Experienced Professional Property Management company available
?    30-minute drive to Ball State University (22,000 Students in 2018)
?    Room for rent increases
?    More possible value plays
?    30-minute drive to Ivy Tech Community College East Central     ?    100% Occupied
?    Cap Rate on Actuals: 13.75% 
?    New Castle is one of the top Real Estate markets in Indiana
?    $6,120 actual NOI
?    $9,936 pro forma NOI
?    Perfect Starter multifamily deal
?    Major Employers: New Castle Community Schools, Draper, Inc., New Castle Correctional Facility (The GEO Group). TS Tech Indiana, LLC, Crown Equipment, Corp., New Castle Stainless Plate, LLC., Foam Rubber, LLC., D.L Couch, Hy-Flex, Magna Machine & Tool Co., Inc., and American Iron Casting 

Opportunity:  Excellent opportunity for an investor to get on board with a stable property which offers a significant upside with rent increases.

Status:  Under contract by Todd Keith.  New Buyer will be assigned contract at close.  

Income and Expenses

Subject Property Current Rents:  $400 to $450 per month.   Actual rents are provided in the Rent Roll.

Income    Pro-Forma
Monthly Potential Income    $1,380
Gross Scheduled Income    $15,560
  Less Vacancy (10%)    (828)
  Less Expenses (45%)    (5,796)
Net Operating Income    $9,936

Property Description

Number of Units:  2

Style:  Two-story

Utilities:  Owner pays for water and sewer while tenants pay for electric and gas.

Roof:  Pitched Asphalt Shingles

Construction:  Wood Frame

Current Occupancy:  100%
                     
Building Square Footage:  1,842 sqft

Land Acreage:  0.07 acres

Built:  1950

Property Highlights

?    Solid Cash-Flowing property

?    Nearby schools are the following: New Castle High School & Middle School, Wilbur Wright Elementary School, James Whitcomb Riley Elementary School, Parker Elementary School, Sunnyside Elementary School, Eastwood Elementary School, Westwood Elementary School, New Castle Special Education, Kids Corner Pre School, Agape Learning School, Firm Foundation Academy, Youth Opportunity Center- New Castle Campus, and New Castle Community School  

?    Near to restaurants Park Restaurant, China Castle, El Chile Poblano, Ming’s Garden, Temptation, Early Bird Dinner, Primo, Famous Recipe Fried Chicken, Applebee’s Grill + Bar, Sake Japanese Restaurant Hibachi & Sushi, Stacks Restaurant, Mancinnos Pizzas and Grinders, El Chile Poblano Mexican Restaurant, White Castle, Café Royal, Subway Restaurants, Snedigar’s Rib House, Top Hat Two, Arby’s and Pizza King.

?    Near to grocery shops like New Castle Plaza, Arlan Becker Shopping Center, Payne Village Shopping Center, Trojan Plaza, National Trail Antique Mall and Walmart Supercenter.

Confidentiality

It is acknowledged by reader that information furnished in this Executive Summary is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious damage; therefore, reader agrees not to disclose it without the express written permission of Todd Keith.

Disclaimer

Todd Keith has prepared this Executive Summary, which contains brief, selected information pertaining to the business and affairs of the property.  The information contained herein does not purport to be all inclusive nor does it purport to contain all of the information representative of the property.  Todd Keith nor any of its respective partners, officers, employees or agents makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein or otherwise expressed and conveyed and no legal liability is assumed or shall be implied with respect hereto.

Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions.  Projections, especially, are based on various assumptions and subjective determinations as to which no guaranty or assurance is given.  

Potential investors are recommended and urged to perform their own examination and investigation and not to rely on the information contained within this document or other materials otherwise provided.

Contact Information

Please contact me at the phone number or email address listed below if you are an interested party, or if you require further information.

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com