5704 Sligo St
5704 Sligo St
Purchase price of $580,000 with 20% down leaves a financed amount of $464,000 and a payment of about $3650 per month, as an investor purchase. Purchasing as an owner-occupied buyer allows for a much lower down payment and more opportunity for the use of the property to cash flow with amazing return numbers. These numbers and terms are subject to change based on rates, call today for exact amounts. This property could bring in $6,000-$8,000 per month in additional rental income.
A couple different ways to cash flow this property for amazing profits:
- Sober Living Halfway House
- Housing Victims of Domestic Violence
- Adults with Intellectual Disabilities
- Or Weekly/Monthly Room Rentals
Sober Living Halfway House– can offer shared rooms, this property is unique being that 3 bedrooms have their own full bath, and two bedrooms would share one full bath. Pricing for sober living residences and halfway houses typically start from a modest $100 – $150 weekly, or $400 – $600 monthly. Such facilities tend to offer basic living conditions resulting from cost-control measures such as using bunk beds or simpler sleeping solutions, and are often situated in less affluent neighborhoods. Exceptions, of course, do exist. Upscale sober living houses in the Las Vegas-Henderson area usually don’t exceed $1,000 – $1,200 monthly, and these are decidedly rare. This property at hand presents an excellent opportunity.
Housing Victims of Domestic Violence -In Southern Nevada, domestic violence programs are grappling with a limited supply of beds, in shelters or hotel rooms serving as emergency overflow lodgings. This has resulted in SafeNest implementing a higher lethality score. The non-profit organization has found itself spending roughly between $30,000 and $70,000 monthly over the past two years for emergency lodging. In August, SafeNest faced a staggering $100,000 bill for housing survivors in overflow accommodations. So, this may present an opportunity to offer this property as an overflow, two to four beds per room would really increase the cash flow and the house has the space to make everybody comfortable.
Adults with Intellectual Disabilities– The concept of group homes often emerges as the most favorable alternative for adults grappling with intellectual deficiencies in need of unvarying domestic situations. They also serve those dealing with delayed development or confronting behavioral challenges. These assisted living establishments may take two forms – residential, wherein individuals find a constant habitat, or non-residential, providing day or evening support. Designed with particular focus on intellectually challenged adults, these homes can accommodate numerous denizens. Strategically positioned within the community, these homes facilitate a sense of belonging among the residents to their immediate surroundings, fostering social interactions. This unique feature of assisted living is committed to instilling more personal independence among the inhabitants by encouraging self-care, yet ensuring assistance is readily accessible when necessary. However, the financial commitment to group homes can be somewhat high if it rests on an individual’s personal budget – typically around or above $2000 per month.
Weekly/Monthly Room Rentals– In your capacity as a homeowner, you have the ability to lease out rooms within your property. You can-do short-term Airbnb or long term as a homeowner. A significant advantage that comes with this 5-bedroom property is the potential for considerable income or an expedited mortgage payment process. Uniquely furnished single rooms, complete with private bathrooms, can yield rents ranging from $1,200 to $1,400. Furthermore, the two bedrooms sharing a bathroom have the prospect of generating $1,000 monthly. Imagine bolstering your finances with an additional $4,800 monthly through rental income. This residence provides three distinct areas for living – a spacious family room, a generously sized living room, and a dining area. In addition, it has a sizable loft, allowing everyone the privilege of having their own spaces. The only shared area is the inviting kitchen. Infinite possibilities await with this property.
Maps & Directions
5704 Sligo St Las Vegas Nv 89130
Amazing opportunity awaits!