UtahCribs Weblog

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Real Estate deals in Provo

Posted by UtahCribs, Real Estate, Homes on April 6, 2009

I have a friend looking to pick up an investment property in Provo and I spent some time researching it out for him. There really are some great buys as long as the properties are BYU approved. This property is approved for six students and rents down there are anywhere from $275-$350 per month, per student. If an investor bought it and put down 25% (loans for investors require at least 20%, but if you put down 25%, you’ll get a much better interest rate) you would cash flow about $700 monthly, which is a 15% annual return on your money. That’s way better cash flow than anything I have seen in Salt Lake including fourplexes, triplexes, and duplexes for that price and that money out of pocket.  Here is the listing:

 

Presented by: Brad Miles 801-428-7223

List Price: $194,900 MLS# 849690  Stat: Active Ref # 1  
Address: 442 E 500 N  Type: Single Family Style: Rambler/Ranch
City: Provo,   UT 84606  Project:
Prop. Tour:  NA NS/EW: 500 N / 442 E    
 Tot Sq Ft: 2184
 Tot Beds: 6
 Tot Baths: 2.00
 Family Rms: 1
 Fireplace: 1
 Gar|Port: 6 | 0
Yr Built: 1914
Taxes: $879
Acres: 0.11
HOA Fee: $0
Under Cnst: No
Fin Bsmnt: 100%
 Exterior: Clapboard/Masonite
 Lot Facts: Curb & Gutter, Fenced Part, Sidewalks, Sprinkler, Auto-Full
 Features & Info: Porch Open / Dishwasher
 Inclusions:
Remarks: Provo City Approved for 6 students! Only 3 blocks from campus, this home is an excellent rental opportunity for an owner*Annual rents are $19,460! 6 dedicated parking spots*Fully furnished! KB Code. BB 2 verify all/info from cnty.

Information deemed reliable but not guaranteed. Buyer to verify all information.
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One Response to “Real Estate deals in Provo”

  1. Brad, this is awesome. I am constantly getting inquiries from people regarding rental properties, and the first question is always, What does it Cash Flow? And for years a break even property was a good deal. This scenario is much better, for those of you who are looking for a rental property think about this, also for those of you first time home buyers that are single and wouldn’t mind some roommates, this could be the situation your looking for…

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