The first floor has 3 rooms – 1 bedroom / 1 bath. The current tenant has lived in the property approx. 28 years. She is a family member who acts as caretaker and as such receives reduced rent. Although currently paying $225.00 per month, she is on a month to month basis and is anticipating a rent increase with new ownership.

The second floor unit also contains 3 rooms – 1 bedroom / 1 bath. This tenant has lived in the property for approx. 8 years. The tenant is a section 8 recipient and is on a lease that expires in June of 2005. This unit is currently generating $350 per month.

There is also a 1-car garage that is currently being used by the first floor tenant at no additional charge. Could this be added income for the savvy investor?

The property appears to be in good condition. It was recently sided by Sears, has storm windows, newer plumbing, rebuilt furnace, and is on circuit breakers. The property has a full basement with poured foundation and glass block in the basement windows.