FOR SALE 644 2ND Avenue. Troy, NY 12180

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1 Investment Property FOR SALE 644 2ND Avenue. Troy, NY ,840 Sq Ft, Multi Family 7 UNITS 1 Leased Store Front with 6 Residential Units JOSEPH CARDINALE Licensed Real Estate Salesperson The Joseph Cardinale Team WHEN YOU CALL...I LL ANSWER! cell. (518) josephcardinale@howardhanna.com If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed by Howard Hanna or its agents/affiliates Route 9. Clifton Park, NY Offered at $450,000

2 TREMENDOUS INVESTMENT. 7 UNITS 1 Leased Store Front with 6 Residential Units. Priced To Sell!! Units have been Renovated over the last 2 years Many new water heaters, boilers, Windows, Appliances Replaced Self Managed CAP Rate13.9% Professional Managed CAP Rate 12.6% Low Market rent CAP Rate Goes to 13.4% or 12.2% High Market Rent Cap Rate Goes to 14.4% or 13.1% Available Showing time per schedule (Must Make Appointment): Wed. 10/10 1:00 Friday 10/12 3:00 Saturday 10/13 12:00

3 644 2ND Avenue. Troy, NY 12180

4 Property Performance Cap Rate Calculations INCOME Building Rent Unit Bed Current Market Rent Unit Type Location Rooms Rent Low High Store lease Floor 1 0 $1,500 $1,500 $1,500 Unit 1 vacant Floor 2 Front 2 $875 $875 $925 Unit 2 lease Floor 2 Back 2 $750 $875 $925 Unit 3 lease Floor 3&4 3 $900 $875 $925 Unit 4 lease Floor 3&4 2 $850 $875 $925 Unit 5 lease Floor 3&4 2 $850 $900 $1,000 Unit 6 lease Floor 3&4 3 $925 $900 $1,000 $6,650 $6,800 $7,200 Other Income $0 $0 $0 Monthly Income $6,650 $6,800 $7,200 Annual n Current Low Market High Market Income o $79,800 $81,600 $86,400 Annual Income with 5% Vacancy Rate $77,520 $82,080

5 EXPENSES Common Expenses Total City Tax $1,900 $1,900 School Tax $5,012 $5,012 Insurance $3,000 $3,000 Water $1,600 $1,600 Sewer $0 Trash (City) $960 $960 Gas & Electric (Common Area) $0 $0 Pest Control $0 $0 Snow/Lawn Care $0 $0 $0 $0 Maintenance/Repairs(3% Low Market) $2,448 $2,448 Replacement Reserve (3% Low Market) $2,448 $2,448 Total Expenses Self Managed $17,368 Low High Current Market Market Professional Management (7%) $5,586 $5,426 $5,746 Total Expenses Professionally Managed $22,954 $22,794 $23,114 t Income Self Managed Net Income Managed Current Net Low Market High Market $62,432 $60,152 $64,712 $56,846 $54,726 $58,966 Low High Price $450,000 Current Market Market Self Managed Cap Rate 13.9% 13.4% 14.4% Professionally Managed Cap Rate 12.6% 12.2% 13.1%

6 Property Information Self Managed CAP Rate 13.9% Professional Managed CAP Rate 12.6% Low Market rent CAP Rate Goes to 13.4% or 12.2% High Market Rent Cap Rate Goes to 14.4% or 13.1% Units have been gone thru and redone over the last 2 years

7 644 2ND Avenue. Troy, NY Showing Schedule & Offer Outline Wednesday 10/10/18 1:00 to 2:00 Friday 10/12/18 3:00 to 4:00 Saturday 10/13/18 12:00 to 1:00 Buildings have been priced for the purpose of selling them after these showings. All offers will be presented to owner. Agents please book within these windows on Showingtime. Property will not be shown outside of this schedule. Listing agent will be at the building to provide access during these times But only if showings are booked on Showingtime I will present offers to clients as they come in The Owner will consider Cash Deals and No Inspection Deals as having a significant advantage over Financed deals. Financed deals cannot have a contingency over 70% (purchaser can finance what they want) Owner will make available any units not able to be seen at time of showing available for viewing during lawyer contingence period If repairs are required for financing the sellers will agree to a hold harmless but purchasers will be required to have work done. Property is AS IS. Proof of Funds and Pre-Approval are required with offer submission. With Financed Offers, Must Provide 30% proof of funds Minimum deposit with offer is $ Please make your first offer your Best offer, we will except the best offer at or Above owners exceptable price and will not be putting out a multi offer 2 nd Chance.

8 JOSEPH CARDINALE Licensed Real Estate Salesperson The Joseph Cardinale Team WHEN YOU CALL...I LL ANSWER! cell. (518) Route 9. Clifton Park, NY If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed by Howard Hanna or its agents/affiliates.