Gross lot Rents Monthly: $1,800.00
Additional income of approximately
Late fees:$100($50/ mo each)
Gross income $1,900.00
June Net income $1,508.56
Net Yearly Income: $18,102.72
Monthly Expenses:
Onsite Management Team - $300
Average water bill-$0 (Metered and direct billed to tenants by the city)
Property Taxes - $43.03 ($516.31/year)
Trash Service -$0 (direct billed by city with water)
Insurance-$25.08 (301/year)
Snow removal $23.33 (280/year average)
Total Monthly Expenses: $391.44
This park is on city water and city sewer. The water and trash are sub metered and billed directly to the tenant by the city. The city is easily commutable to Grand Forks. The water pipes are copper and the sewer pipes are concrete. Both systems are sound with no issues with leaks.