Duplex near U of M

Currently rented through August 2014! Duplex with a 3-bedroom unit that currently rents for $1,800/mo, and the seller is adding a 4th bedroom for the 2013-14 school year, with a signed lease for $2,200/mo. The other unit is a 4-bedroom, currently rented for $1,850 with a signed lease for the 2013-14 year at $2,200/mo.

Bathrooms have been updated, and the kitchens are more updated too. There are 5 off-street parking stalls behind the property.

Asking $395,000
Cap Rate: 8.9%
14.7% Return on Investment (assuming 25% down and 5% interest rate)  

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