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Off-Market
PA 15901, USA714-714 1-2 Somerset St Johnstown
PA 15901, USA
List price
$19,900
$•••,•••
5
beds
4
baths
4,000
sq ft
1880-01-01
built
Multi Family
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Story
OFFERMARKET EXCLUSIVE
This 3 unit multi-family house in the heart of Johnstown, PA is a cash flow Section 8 play. Owner has partially rehabbed, needs sheetrock and cosmetic finishings. Will make for a cash flowing rental investment property. See investor notes section below for cash flow and cash-on-cash return estimates. Section 8 Housing Assistance Program is available through Johnstown Housing Authority. A quick conversation with a Section 8 housing coordinator made it clear "we are always in need of quality housing, there is a shortage in Johnstown. If these units were made available to the program, they would fill quickly."
Johnstown Housing Authority Section 8 Rates (2021):
- 1 BR $572 per month (utilities included)
- 2 BR $724 per month (utilities included)
- 3 BR $923 per month (utilities included)
Property details
22 property details
Property
· The bones — what the buyer sees first
Bedrooms
5
Full baths
4
Half baths
0
Finished sq ft
4,000 sq ft
Above-grade sq ft
4,000 sq ft
Below-grade finished sq ft
0 sq ft
Year built
1880
Stories
2
Units
3
Property type
Multi Family
Occupancy
Vacant
Condition (1–5)
2
Neighborhood
Downtown Johnstown
County
Cambria County
Financials
· What it earns and what it costs to hold
ARV (after repair)
$150,000
Tax-assessed value
$13,480
Property tax rate
1%
Cap rate
14%
Cash-on-cash return
22%
Monthly cash flow
$1,500 /mo
History & terms
· Past sales, updates, and deal mechanics
Year renovated
2018
Earnest deposit
5000
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