Gross Revenue (annual): $397,440
Net Income (annual): $100,744
Average Bed Rate (monthly):
Note: To protect confidentiality, property image displayed is not of this property. Actual property photos and addresses are included in OM.
Two six-bed adult foster care homes for sale in Lansing, MI. These two homes are within short walking distance of each other making operation of the two simple.
The first home has been operating for 12 years. The second was just opened in 2018.
Historical financials are not yet available for the second home, so the financial information provided here is based on proforma figures. Historical financials for the first AFC are available with signed confidentiality agreement.
The current owner hasn’t increased monthly bed rates in several years, so the current monthly income per bed is well below the average for the local area and the state. These rates can easily be increased by $1,000/ bed over the course of 6-12 months
Note: To protect confidentiality, property image displayed is not of either of these properties. Actual property photos and addresses are included in OM.