Loading images

432 N CROTON AVE New Castle, PA 16101

  • No. of Units
  • 3,231 sqft
Get Directions Google Maps Direction

MultiFamily-Active $ 79,500

MLS#: 15-25

Courtesy of: Jesse Horton, J. C. Horton Realty

  • Save

  • Showing

  • Info

Get Direction

Description

Beautiful Victorian home featuring 3 rental units. Could be single family home again or great income producer. Property has original woodwork, fireplaces, gorgeous original features still remain. Could also be an amazing professional office building or a combination of the two. Area has been undergoing re-vitalization. As it is presently set up, the owner pays all utilities. Net Operating Income (N.O.I.) Gross Operating Income (G.O.I.) Potential Gross Operating Income (P.G.I.) Effective Gross Income (E.G.I.) = POI - V&C/L = EGI Overall Capitalization Rate (O.C.R.) - Market Derived or B.O.I. Band On Investment (B.O.I.) Vacancy & Collection Losses (V&C/L) Rent Roll: Apt 1 (1st Fl. Actual / Front-Occupied)@ $600 x 12 =$ 7,200 Apt 2 (1st Fl. Actual / Rear -Occupied)@ $500 x 12 =$ 6,000 Apt 3 (2ndFl. Mkt.Rt.Util.Incl.-Vacant) @ $900 x 12 = $ 10,800 (Mkt Derived) Potential Gross Income (P.O.I.) = $ 24,000 / Annum Less 5% V &CL (Est.) = {$ 1,200} = $ 22,800 (E.G.I.) Less Expenses: Property Management (Est. Based on Mkt. 10% of EGI = $ 2,280 Property Taxes = $ 1,522 / yr Insurance (Fire / Liability / Ext.) = $ 1,344 / yr Lawn Maint. & Snow Removal = $ 300 / yr Code Inspection x 3 Units (135 / 2 yrs.) = $ 68 / yr Trash Removal x 3 Units ($75 x 3) = $225 / yr Misc. (Advertising, Sundries, Bookkeeping, etc.) = $ 500 / yr Maintenance @ 5%/Annum Est.>Actual = $ 1,140 Reserve for Replacement (Short Lived Items) Est. = $ 1,200 Utilities: Elect. (Actual) = $ 1,160 Gas: (Actual) = $ 3,370 Water: (Actual) = $ 733 Sewer: (Actual) = $ 531 Estimated Utilities for Apt. 3 Once Occupied = Elect: (Est.) = $ 580 Gas: (Est) = $ 1,200 Water: (Est) = $ 400 Sewer: (Est) = $ 275 Total Expenses (Actual and Estimated) = $ 16,828 (G.A.E.) Effective Gross Income = $ 22,800 Less Gross Annual Expenses = $ 16,828 Equals Net Operating Income = $ 5,972 (N.O.I.) NOI/O.C.R. (Overall Capitalization Rate)=Estimated Value By Income Aprch. $ 5,972 / 9% = $66,355 (Based on a 9% Overall Cap Rate)

Specifications


    Contract Information


  • 43700
  • Closing

    General Property Description


  • 1336.5
  • 2232
  • 640
  • 359
  • Victorian

    Property Identification


  • Not Applicable
  • New Castle
  • R-2

Map View

Map View

    • Assessed Valuation : 43700
    • Possession : Closing
    • SqFt. 1 : 1336.5
    • SqFt. 2 : 2232
    • SqFt. 3 : 640
    • SqFt. 4 : 359
    • Style : Victorian
    • Realtor.COM Type : Multi-Family
    • Lot Size : 50 x 150
    • Lot Acres : 0.14
    • Total Rooms : 12
    • Garage Type : None
    • Garage Stall
    • Taxes : 1522
    • Tax Year : 2015
    • Legal : Parcel ID /Ctrl#: 03073600 & 03073500? DB Vol/Pg: 1736-124 (06-21-02)
    • Basement : Full
    • School District : New Castle
    • Outbuildings : None
    • Township : Not Applicable
    • Borough : New Castle
    • Zoning : R-2
    • Type of Heat : Gas Forced Air
    • Water : Public
    • Dishwasher
    • Microwave
    • Range/Oven
    • Rerigerator
    • Washer
    • Dryer
    • Exterior Walls : Wood
    • Roof : Asphalt
    • Gross Expenses : 9,686 Act / 16,828*
    • Gross Income : 24000 *
    • Insurance Expense : 1346
    • Maintenance Expense : 2400*
    • Electricity : Owner
    • Gas : Owner
    • Sewer : Owner
    • Water : Owner