501 NW 6th Street
Mineral Wells, TX 76067
- 15 beds
- 14 baths
- – sqft
- 11,891 sqft lot
- – on site
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Value add investment opportunity! 7 units; six 2 bed 2 bath, one is 3 bed 2 bath, walking distance to The Baker & Crazy Hotels. With the plans for Mineral Wells to be the Branson of TX this could be a short term rental cash cow! 4 units have all new plumbing, electric, flooring, kitchens, baths, everything new. All 7 have new windows. HVAC's have been serviced & all in good working order. Separate meters. 2 of the units are leased @ $1200 a month. This price is if sold as is with 2 units complete, 2 just need knock out items & appliances to have $5000 coming in while completing. 3 of the units are gutted and ready for your ideas! Most of the finish out materials are there for the other 3 units. They are U shape with what could be a really cool courtyard. We are planning for $8600 in rents for long term and more for short term. If you were all in at $900k with your mortgage that is over $3500 a month net profit, 8.6% cap and 11.24% cash on cash return. MLS map takes you to 501 NE 6th.
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Last updated Apr 27, 2024
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MLS# 20009036 —
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/8/22
Apr 8, 2022
|
Sold | NTREIS | ||
|
3/31/22
Mar 31, 2022
|
Pending | NTREIS | $675,000 | |
|
3/23/22
Mar 23, 2022
|
Listed / Active | NTREIS | $675,000 |