EXECUTIVE SUMMARY Orangeburg Rental Home · PDF file1065 Freeland Street, Orangeburg, SC 29115...

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Transcript of EXECUTIVE SUMMARY Orangeburg Rental Home · PDF file1065 Freeland Street, Orangeburg, SC 29115...

  • SHERMAN & HEMSTREET REAL ESTATE COMPANY3523 Walton Way Ext., Augusta, GA 30909shermanandhemstreet.com706.722.8334

    JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

    OFFERING SUMMARY

    Sale Price: $240,000

    Number Of Units: 4

    Cap Rate: 8.1%

    NOI: $19,434

    Lot Size: 0.0 Acres

    Building Size: 5,000

    Zoning: Residential

    Price / SF: $48.00

    4 Rental houses for sale. owner purchased a large package of properties and these 4 are outliers and they wish to disposeof them. Seller has explored selling the homes as empty single family units but feels like the value is better as an incomeproperty. BPO's on each unit are available. Motivated seller so bring all offers.

    PROPERTY OVERVIEW

    Residential area close to retail and office in Orangeburg, SC. Centrally located and all in same general area.

    LOCATION OVERVIEW

    PROPERTY HIGHLIGHTS

    Centrally Located

    Close to schools, retail and jobs

    Great rental history

    Fee simple units

    Bring all offers MOTIVATED SELLER

    1065 Freeland Street, Orangeburg, SC 29115Orangeburg Rental Home PorftolioEXECUTIVE SUMMARY

  • 1065 Freeland Street, Orangeburg, SC 29115Orangeburg Rental Home PorftolioADDITIONAL PHOTOS

    SHERMAN & HEMSTREET REAL ESTATE COMPANY3523 Walton Way Ext., Augusta, GA 30909shermanandhemstreet.com706.722.8334

    JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

  • SHERMAN & HEMSTREET REAL ESTATE COMPANY3523 Walton Way Ext., Augusta, GA 30909shermanandhemstreet.com706.722.8334

    JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

    1065 Freeland Street, Orangeburg, SC 29115Orangeburg Rental Home PorftolioLOCATION MAPS

  • SHERMAN & HEMSTREET REAL ESTATE COMPANY3523 Walton Way Ext., Augusta, GA 30909shermanandhemstreet.com706.722.8334

    JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

    INCOME SUMMARY PER SF

    Gross Potential Income $32,100 $6.42Vacancy/Collection Loss (5%) -$1,605 -$0.32Late Fees $950 $0.19

    Gross Income $31,445 $6.29

    EXPENSE SUMMARY PER SF

    Property Taxes $5,469 $1.09Insurance $1,655 $0.33Management Fee (6%) $1,887 $0.38Repairs & Maintenance $3,000 $0.60

    Gross Expenses $12,011 $2.40

    Net Operating Income $19,434 $3.89

    1065 Freeland Street, Orangeburg, SC 29115Orangeburg Rental Home PorftolioINCOME & EXPENSES

  • SHERMAN & HEMSTREET REAL ESTATE COMPANY3523 Walton Way Ext., Augusta, GA 30909shermanandhemstreet.com706.722.8334

    JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

    UNITNUMBER USE

    UNITBED

    UNITBATH

    UNITSIZE (SF)

    CURRENTRENT

    CURRENTRENT (PER SF)

    MARKETRENT

    MARKETRENT/SF

    1065 Freeland 3 1 1,104 $550 $0.50 $600 $0.54

    1167 Chestnut 3 2 1,420 $700 $0.49 $725 $0.51

    820 George 3 1.5 1,254 $648 $0.52 $700 $0.56

    1341 Schley 3 1 1,165 $625 $0.54 $650 $0.56

    Totals/Averages 4,943 $2,523 $0.51 $2,675 $0.54

    1065 Freeland Street, Orangeburg, SC 29115Orangeburg Rental Home PorftolioRENT ROLL

  • SHERMAN & HEMSTREET REAL ESTATE COMPANY3523 Walton Way Ext., Augusta, GA 30909shermanandhemstreet.com706.722.8334

    JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

    POPULATION 1 MILE 3 MILES 5 MILES

    Total population 5,847 20,985 31,883

    Median age 28.6 32.2 32.9

    Median age (male) 27.3 30.5 31.1

    Median age (Female) 29.4 33.8 35.2

    HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

    Total households 1,718 7,685 11,875

    # of persons per HH 3.4 2.7 2.7

    Average HH income $37,118 $39,731 $42,876

    Average house value $132,626 $139,073 $137,695

    * Demographic data derived from 2010 US Census

    1065 Freeland Street, Orangeburg, SC 29115Orangeburg Rental Home PorftolioDEMOGRAPHICS MAP

  • SHERMAN & HEMSTREET REAL ESTATE COMPANY3523 Walton Way Ext., Augusta, GA 30909shermanandhemstreet.com706.722.8334

    JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

    3523 Walton Way Ext.Augusta, GA 30909T 706.288.1077C 706.627.2789jedge@shermanandhemstreet.com

    PROFESSIONAL BACKGROUND

    Joe is a native of Augusta, GA, and currently lives in Columbia County with his wife and five children. He began his career inreal estate in 2005 after serving four years in the United States Marine Corps. In 2006 Edge started his own commercial realestate firm and later that year bought out the 90-year-old firm, Sherman & Hemstreet.

    Currently Sherman & Hemstreet now has more commercial real estate listings and brokers than any other firm in the CSRA.In addition to sales and leasing S&H has grown into one of the largest property management firms in the southeastmanaging over 4,000 units and over 10,000,000 square feet of space. More recently Sherman & Hemstreet completed theacquisition of McBride Realty and Turner Realty, both local firms.

    Currently Joe holds the CCIM and SIOR designations. To learn more about these designations go to www.ccim.com orwww.sior.com.

    MEMBERSHIPS & AFFILIATIONS

    Certified Commercial Investment Member (CCIM)Society of Industrial and Office Realtors (SIOR)

    JOE EDGE, SIOR, CCIMPresident & Broker

    1065 Freeland Street, Orangeburg, SC 29115Orangeburg Rental Home PorftolioADVISOR BIO & CONTACT 1

    https://www.facebook.com/CSRArealestate/https://www.linkedin.com/in/joeedge/https://twitter.com/josephedge3