$195,000
$195,000
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6 Beds
3 Baths
3,210 SqFt
SOLD DATE : 09/14/2023
Key Details
Sold Price $195,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,210 sqft
Price per Sqft $60
Subdivision Lake Ridgelea
MLS Listing ID 4053537
Sold Date 09/14/23
Style Traditional
Bedrooms 6
Full Baths 3
Originating Board MLS United
Year Built 1951
Annual Tax Amount $1,624
Lot Size 0.620 Acres
Acres 0.62
Property Description
2 homes on one parcel with a total of 6BR 3BA with 3,210 sq ft. One home is a 4BR/2BA (2,047 sqft), the other is a 2BR/1BA (1,163 sqft). The 4BR/2BA currently vacant but previously rented for $1,535/month. The 2BR/1BA currently rents for $1,160/month. The total gross rent for both homes is $2,695 /month. Owner pays for water, sewer and trash for both homes (roughly $45 /month). Owner pays for electricity for the 2BR/1BA (averages $150 /month). Owner only pays for electricity for the 2BR/1BA, but not the 4BR/2BA. Both homes have separate electric bills/meters. The water and sewer bills are shared. The 2BR/1BA is occupied by standard tenants. There's roughly 6-7 months left on the lease for the 2BR/1BA.
Both homes have also been renovated within the past year. The pictures provided were taken prior to tenants' occupancy. There is lots of potential for this property. New owners could occupy one home and rent the other out. There is also potential to separate both homes into two separate parcels and sell each home individually. Owner is pretty firm on price. You will not find another property in the metro area for $195,000 that has a gross rent of $2,695. Property is being sold as is.
Location
State MS
County Hinds
Community Lake
Direction Gary Rd To Eastridge On Left, Continue that Rd. Approx. 1.5 miles; house on left.
Rooms
Other Rooms Garage(s), Storage
Interior
Interior Features Entrance Foyer, Pantry
Heating Central, Electric
Cooling Ceiling Fan(s), Central Air, Electric
Flooring Carpet, Tile
Fireplaces Type None
Furnishings No
Window Features Insulated Windows
Appliance Dishwasher, Electric Cooktop, Electric Range, Range
Laundry In Carport, Lower Level
Exterior
Exterior Feature None
Garage Covered, Enclosed, Concrete, Gravel
Garage Spaces 4.0
Pool false
Community Features Lake
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Waterfront Yes
Waterfront Description Lake
Roof Type Metal
Porch Covered, Deck
Parking Type Covered, Enclosed, Concrete, Gravel
Garage No
Private Pool No
Building
Lot Description City Lot
Foundation Conventional
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Structure Type None
New Construction No
Schools
Elementary Schools Gary Road
Middle Schools Byram
High Schools Terry
Others
Tax ID 4854-0833-000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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