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Aggressive offer on Kansas City Find [Code: 903]

Posted by Powered by Simply Do It on September 23, 2022
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Why THIS deal??
  • Price already dropped by $10K total over 15 days on the market.  Good sign that seller is willing to negotiate
  • ~$225/mo cash flow
  • Suggested offer is aggressive.  Be prepared for counter offer up to $355K
  • Very little work needed to make this lease-ready
  • Highest and Best Offers Due Saturday 9/24/22 by 5pm (CST)
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After 15 Years (no mortgage)
Original purchase price $345,000
Total investment (out of pocket) $97,375
15 yrs Project house value $648,340
Value (appreciation) Gain $303,340
15 yrs cash-flow generated $75,221
Total Gain $378,561
ROI (15 yrs) 388.8%
ROI (annually) 25.9%
   
Free & Clear cash flow (yr.) $26,761
Free & Clear cash flow (m) $2,230
  • 4 bedroom, 3 bath Single Family Home
  • Large fenced backyard.  Perfect for families and pets
  • LVP flooring & carpet throughout
  • Suggested offer is very aggressive for this area, be prepared for counter offer up to $355K
  • 5th non-conforming room to be used as home office or gym
  • Good school district
  • No HOA fees
  • Highly appreciating neighborhood
  • Attached 2-car garage
  • Price has been dropped already by $10K and has been on the market for 15 days
  • 7,957 square foot lot


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

  • Built: 2013
  • Size: 2,453 square foot 
  • Low Crime, desirable community, A rated schools

What's next?

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

Metro: Kansas City

Team: Elizabeth/Meredith – email directly at kc1@simplydoit.net

Code: 903


Property Specifications 1
 Bedrooms 4
 Bathrooms 3
 Square Feet 2453
 Year Built 2013
 Garage Size 2
 Schools Rating (on scale of A-C) A


Purchase Assumptions My Offer
Offer used for analysis $345,000
Suggested offer (low) $345,000
Suggested offer (high) $360,000
Asking $355,000
Market Value (after improvements) $360,000
Improvements (lower) $2,000
Improvements (upper) $3,000
Closing Costs $3,450
Mortgage Costs $3,450
Other Fees At Closing $1,725
Total Cost  $356,125

Financial Assumptions Monthly Yearly
Rent (upper) $2,595 $2,695 $32,340
Rent (lower) $2,495 $29,940
Property Tax Rate (Approx.) 2.5%  
Property Taxes   $375 $4,500
Insurance   $110 $1,320
Repairs   $65 $780
Variable-Cost PM   7.2%  
Property Management Fee $186 $2,227
Leasing Fee 68% $73.0 $876
HOA   $0 $0
Vacancy Rate   4.0%  
Total Fixed Expenses $905 $10,859
 Total Expenses (Fixed + Mortgage) $2,436 $29,226

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B A FAVORABLE
 Square Feet     1,000 2,453 FAVORABLE
 Bedrooms     3 4 FAVORABLE
 Bathrooms     2 3 FAVORABLE
 Year Built     1970 2013 FAVORABLE
 Rent/Price (%)     0.75% 0.78% FAVORABLE
 Average Cash Flow (at year 5)     $125 $228 FAVORABLE
 Average ROI (at year 5)     15% 22.6% FAVORABLE

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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. 

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