About 1816 Filmore
INVESTMENT OPPORTUNITY — TWO DETACHED HOMES ON ONE PARCEL! Rare opportunity to own two separate detached homes on a single parcel, offering excellent flexibility for investors, owner-occupants, or those looking to generate rental income from multiple dwellings. The front home is a charming brick ranch featuring 2 bedrooms, 1 full bathroom, and hardwood floors. This home is currently rented for $1,200/month, providing immediate rental income. The rear home offers 1 bedroom and 1 full bathroom and is tucked privately behind the front home, providing additional rental potential. With cosmetic work needed, this second dwelling presents an opportunity to improve, customize, and maximize its rental value. Projected rent for the rear home is approximately $800/month. With a projected combined rental income of $2,000/month, the property could generate approximately $24,000 in gross annual rental income or $240,000 over 10 years. At the $135,000 purchase price, this represents a projected 17.8% gross annual rental return. Based solely on projected gross rental income less the purchase price, the estimated 10-year gain is approximately $105,000, before taxes, insurance, maintenance, vacancy, utilities, management, financing, and other expenses. The combination of an existing $1,200/month tenant, a second dwelling with additional rental potential, and a private setting makes this a compelling opportunity for investors looking to build or expand their portfolio. Cosmetic improvements to the rear home could provide an opportunity to increase overall rental income and property value.
