OfferMarket

714-714 1-2 Somerset St Johnstown, PA 15901, USA

$19,900

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OFFERMARKET EXCLUSIVE

This 3 unit multi-family house in the heart of Johnstown, PA is a cash flow Section 8 play. Owner has partially rehabbed, needs sheetrock and cosmetic finishings. Will make for a cash flowing rental investment property. See investor notes section below for cash flow and cash-on-cash return estimates. Section 8 Housing Assistance Program is available through Johnstown Housing Authority. A quick conversation with a Section 8 housing coordinator made it clear "we are always in need of quality housing, there is a shortage in Johnstown. If these units were made available to the program, they would fill quickly."

Johnstown Housing Authority Section 8 Rates (2021):

  • 1 BR $572 per month (utilities included)
  • 2 BR $724 per month (utilities included)
  • 3 BR $923 per month (utilities included)
Loan Type Rate Points Term

DSCR ("Rental")

 6.5% - 8% 0.5 - 2 30 year

Fix and Flip ("Bridge", "Hard Money", "Fix and Rent", "RTL")

 10.75% - 12% 1 - 2 6 - 18 months