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581-587 Jefferson Ave, Rochester, NY 14611

View Smart Contracts: Eth xDai

Total Investment: $ 584,800.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.26% Partially Rented

    Not including capital appreciation

  • Rent per Token

    $ 6.00 / year

  • Rent Start Date

    November 30, 2020

  • Token Price

    $ 58.48

  • Total Tokens

    10,000

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above yield for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

  • Property Type

    Mixed-Use

  • Full Address

    581-587 Jefferson Ave, Rochester, NY 14611

  • Neighborhood

    Genesee - Jefferson

  • Construction Year

    1900

  • Total Units

    14 Units

  • Rental Type

    Long-term

  • Rented?

    13 / 14 Units

  • Rent Subsidy?

    Section 8

Property Financials

  • Gross Rent / year

    $ 97,980.00

  • Gross Rent / month

    Partially Rented $ 8,165.00

  • Monthly Costs

    - $ 3,162.57
    • Property Management (9.50%)
      - $ 775.68
    • RealT Platform (2.00%)
      - $ 163.30
    • Maintenance Expenses
      - $ 416.67
    • Property Taxes
      - $ 990.25
    • Insurance
      - $ 291.67
    • Utilities
      - $ 525.00

  • Net Rent / month

    $ 5,002.43

  • Net Rent / year

    $ 60,029.16

  • Total Investment

    $ 584,800.00
    • Underlying Asset Price
      $ 415,000.00
    • Operating Expense Reimbursement (10%)
      $ 58,480.00
    • Initial Maintenance Reserve
      $ 16,330.00
    • Initial Renovation Reserve
      $ 95,000.00
    • Unrounded Listing Price
      $ 584,810.00
    • Rounding Difference
      - $ 10.00

  • Expected Income

    Partially Rented 10.26%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,600

  • Interior Size (sqft)

    9,326

Test Renovation content!

Offering Details

  • Offering Date

    November 12, 2020

  • Issuer

    RealToken LLC - Series #39 - 581-587 Jefferson

  • Min. Investment Amount

    $58.48

  • Max. Investment Amount

    $584,800.00

  • Amount Raised

    $584,800.00

  • Offering Percent (of Total Tokens)

    100.00%

Rent Assistance!

This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.

The rent of Section 8 properties is usually exceptionally stable.

Learn More

About the Property

571 – 578 Jefferson is RealT’s first offering in the great state of New York, and what an excellent offering it is! This healthy mixed-use brick building offers landlords a reliable, easy-to-manage property situated in a safe, working-class neighborhood. The expected yield of 10.26% is also exceptionally high for the area—this is not a typical New York yield!

Jefferson hosts one studio, seven one-room, three two-room, and one three-room apartments, along with two retail spaces on the ground floor. All are currently rented, and all will be brought up to Section 8 standards so that they can be rented under that program if and when current tenants leave. We anticipate an increase in yield as units are re-rented under Section 8.

Some of Jefferson’s components are nearing end-of-service, such as the boilers and roof. RealT has allocated a renovation reserve of $95,000 to update and improve the building’s components at the end of their service with the intention of improving the property in the process. This reserve is already included in the Asset Price above. We will be sharing more details about the renovation process as it goes, so stay tuned!

Map

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