3-Property Side by Side Rental Portfolio in Thayer | Cash Flowing + Value-Add Opportunity 🔥

• 3 Beds / 2 Baths • 1,150 SqFt
Offer Submission Deadline
  • 2-4 Unit
  • 3
  • 2
  • 0000
  • 1150
  • 1150
  • No Garage

Description

Property Breakdown:

104 E Ebony St Photos

  • 3 bed / 2 bath barn-style home
  • Approx. 1,150 SF
  • Single-car garage underneath
  • Vacant for ~9 months
  • Upstairs repainted + new laminate flooring (2025)
  • Electric baseboard heat
  • In-wall AC unit
  • Main repair needed: new deck
  • Roof work was done quite a few years ago
  • Taxes: ~$1,650/year
  • Previously rented for $750/mo, estimated current market rent closer to $900/mo

From our contractor:

Estimated Repairs: $8,000–$12,000

This is the cleanest property of the three and requires mostly cosmetic improvements. The front deck should be replaced, the exterior would benefit significantly from pressure washing, and there are a few roof repairs needed (or an option to install a metal roof over the existing shingles). The interior primarily needs touch-up paint, and the seller is leaving behind matching flooring and paint to assist with the updates.

106.5 E Ebony St (Shared Lot) Photos

  • 1 bed / 1 bath (plus bonus room previously used as bedroom)
  • Tenant occupied (month-to-month)
  • Rent: $600/mo
  • Garage included
  • New laminate flooring ~3 years ago
  • Electric baseboard heat
  • Window/wall AC
  • Same roof since seller purchased property

From our contractor:

Estimated Repairs: $10,000–$12,000

The primary expense on this property is the roof, which has multiple soft spots and noticeable sagging and should be replaced. Beyond the roofing work, the house is mostly turn key the home mainly needs fresh interior paint and a handful of minor cosmetic repairs, making it a straightforward value-add opportunity once the exterior is addressed.

106 E Ebony St (Shared Lot) Photos

  • 2 bed / 1 bath
  • Tenant occupied (month-to-month)
  • Rent: $750/mo (tenant reportedly behind at times)
  • New laminate flooring ~3 years ago
  • Has furnace with AC
  • Roof work completed a few years ago
  • Water heater ~7 years old

From our contractor:

This is the heaviest rehab in the package. The interior has severe odor issues and will require substantial cleanup and remediation before it is accessible for renovations. Expect a moderate to heavy cosmetic job, including extensive interior repairs, cosmetic updates, and likely additional mechanical and work as the project progresses. This property offers the greatest upside but will require the largest investment of the three.

Current Income

  • 106: $750/mo
  • 106.5: $600/mo
  • 104: Vacant (previously $750/mo, likely ~$900/mo market)

Potential Gross Rent

  • Approximately $2,400/mo for all 3 properties

Taxes

  • 104: ~$1,650/year
  • 106 & 106.5 combined: ~$2,500/year
  • Total Taxes: ~$4,150/year

Estimated Spread

  • ARV $235,000
  • Price $150,000
  • Spread $85,000