32 Units Vincennes, IN 47591 💰 Purchase Details Purchase Price: $2,000,000 ($62,500/unit) - Down Payment: $400,000 - Seller Financing: $1,600,000 (~5.1% interest) - Monthly Payment: ~$8,500/mo 🏢 Property Highlights - 32 one-bedroom, one-bath units - Two-story garden-style Class B community - Renovated in 2023 & 2025 - Adjacent to Vincennes University - Located in a Qualified Opportunity Zone - Value-add upside through lease-up (12 vacant units) 📊 Financials (Actuals) Current Performance (T12 / In-Place) - Gross Income: $187,180 - Operating Expenses: $38,289 - Net Operating Income (NOI): $148,891 - Current Cap Rate (on $2,000,000 price): 7.44% - 11.7% cash on cash return  -  Conservative proforma cash on cash return  17+% 📈 Pro Forma - Conservative NOI: $170,000 - Pro Forma NOI: $213,693+ (as provided) - Upside driven by: - Lease-up of 12 vacant units - Rent growth on stabilized occupancy - Operational efficiency gains 📌 Value-Add Thesis - 20 / 32 units currently occupied - Immediate NOI expansion through lease-up - Renovated asset (2023 & 2025) - Strong spread between in-place yield (7.44% cap) and stabilized performance -

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