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2004 Built home that needs some work – An Investors Opportunity! [Code 3618]

Posted by Powered by Simply Do It on December 30, 2021
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Description automatically generated with medium confidence

 

  • Beautiful 4-sided brick home
  • Updated home in a highly desired subdivision. 
  • Current owner preferred polished concrete floors.  Crack in dining room and kitchen appears to be normal concrete wear and does not look indicative of any foundational problems
  • Sits on a quiet residential street
  • Grade A local school district
  • No (low) crime area
  • Master bath features a large, jetted tub and a separate shower
  • 10,000+ sq. foot lot
  • Open concept with vaulted ceilings
  • Property has been on the market for 14 days already
  • Floors and Kitchen need some TLC and are likely to steer buyers away as they are, which provides you a great opportunity to negotiate
  • Market value is $310-$325k, but we suggest offering $300K
  • Spacious, fenced backyard with covered patio

Why should you consider this house / what makes it a good investment?

  • Built: 2004
  • Size: 2200+ sq ft with a 10k+ sq foot lot
  • Quiet street, desirable community, great schools
  • Low crime

 

Property Specifications

1

Bedrooms

5

Bathrooms

3

Square Feet

2243

Year Built

2004

Garage Size

2

Schools Rating (on scale of A-F)

A

 

Purchase Assumptions

My Offer

Offer used for analysis

$300,000

Suggested offer (low)

$300,000

Suggested offer (high)

$310,000

Asking

$319,000

Market Value (after improvements)

$325,000

Improvements (lower)

$7,500

Improvements (upper)

$9,500

Closing Costs

$3,000

Mortgage Costs

$3,000

Other Fees At Closing

$12,000

Total Cost

$326,500

 

Financial Analysis / Deal Attractiveness

 

 

 

 

Years:

5

10

15

20

Cap Rate

4.6%

5.5%

6.4%

7.4%

Net Cash Flow

$23,426

$55,599

$97,430

$149,925

Equity Increase

$93,594

$206,869

$343,976

$509,941

Total Gain

$117,019

$262,468

$441,406

$659,866

 

 

 

 

 

 

Average Cash Flow/Year

$4,685

$5,560

$6,495

$7,496

Average Cash Flow/Month

$390

$463

$541

$625

Average Gain/Year

$23,404

$26,247

$29,427

$32,993

Average ROI

115.3%

258.6%

434.9%

650.1%

Annual ROI

23.1%

25.9%

29.0%

32.5%

Projected Property Value

$395,412

$481,079

$585,307

$712,115

 

Property Ratings Suggestions

Item

 

 

Suggested Criteria (Min.)

This Property

FAVORABLE /
INSUFFICIENT

Schools

 

 

B

A

FAVORABLE

Square Feet

 

1000

2,243

FAVORABLE

Bedrooms

 

3

5

FAVORABLE

Bathrooms

 

2

3

FAVORABLE

Year Built

 

1970

2004

FAVORABLE

Rent/Price (%)

 

0.75%

0.72%

INSUFFICIENT

Average Cash Flow (at year 5)

$125

$390

FAVORABLE

Average ROI (at year 5)

15%

23.1%

FAVORABLE

 

 

 

 

 

Metro: Birmingham

Team: Don/Carter

Code: 3618

 

 

What’s next?

Email/text for address, analysis and to get connected to Simply Do It’s local team that handles this transaction.

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Description automatically generated with medium confidence

Disclaimer

Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info. code 711

 

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