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Back on the market with good inspection report! [Code: 1307]

Posted by Powered by Simply Do It on September 26, 2022
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Why THIS deal??
  • Back on the market with good inspection report
  • ~$130/mo cash flow
  • Been on the market for 11 days
  • Very little work needed to make this lease-ready
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After 15 Years (no mortgage)
Original purchase price $269,000
Total investment (out of pocket) $77,975
15 yrs Project house value $495,259
Value (appreciation) Gain $226,259
15 yrs cash-flow generated $48,900
Total Gain $275,160
ROI (15 yrs) 353%
ROI (annually) 24%
   
Free & Clear cash flow (yr.) $20,121
Free & Clear cash flow (m) $1,677

  • 3 bedroom, 2 bath Single Family Home
  • Large fenced backyard with wood deck.  Perfect for families and pets
  • LVP & Carpet flooring throughout
  • New furnace and air in 2022
  • Good school district
  • No HOA fees
  • Highly appreciating neighborhood
  • Attached 2-car garage
  • 8,393 square foot lot


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

  • Built: 2003
  • Size: 1,351 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: 1307


Property Specifications 1
 Bedrooms 3
 Bathrooms 2
 Square Feet 1351
 Year Built 2003
 Garage Size 2
 Schools Rating (on scale of A-C) A

Purchase Assumptions My Offer
Offer used for analysis $269,000
Suggested offer (low) $272,000
Suggested offer (high) $290,000
Asking $269,000
Market Value (after improvements) $275,000
Improvements (lower) $3,000
Improvements (upper) $5,000
Closing Costs $2,690
Mortgage Costs $2,690
Other Fees At Closing $1,345
Total Cost  $279,725

Financial Assumptions Monthly Yearly
Rent (upper) $2,050 $2,150 $25,800
Rent (lower) $1,950 $23,400
Property Tax Rate (Approx.) 1.4%  
Property Taxes   $314 $3,766
Insurance   $110 $1,320
Repairs   $75 $900
Variable-Cost PM   7.2%  
Property Management Fee $147 $1,759
Leasing Fee 68% $57.7 $692
HOA   $0 $0
Vacancy Rate   4.0%  
Total Fixed Expenses $779 $9,350
 Total Expenses (Fixed + Mortgage) $1,973 $23,672


Financial Analysis / Deal Attractiveness        
Years: 5 10 15 20
 Cap Rate 2.0% 3.0% 4.2% 5.4%
 Net Cash Flow $7,754 $23,767 $48,900 $84,102
 Equity Increase $73,885 $165,549 $279,446 $421,204
 Total Gain $81,639 $189,316 $328,347 $505,306
           
 Average Cash Flow/Year $1,551 $2,377 $3,260 $4,205
 Average Cash Flow/Month $129 $198 $272 $350
 Average Gain/Year $16,328 $18,932 $21,890 $25,265
 Average ROI 104.7% 242.8% 421.1% 648.0%
 Annual ROI 20.9% 24.3% 28.1% 32.4%
 Projected Property Value $334,580 $407,067 $495,259 $602,559

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B A FAVORABLE
 Square Feet     1000 1,351 FAVORABLE
 Bedrooms     3 3 FAVORABLE
 Bathrooms     2 2 FAVORABLE
 Year Built     1970 2003 FAVORABLE
 Rent/Price (%)     0.75% 0.80% FAVORABLE
 Average Cash Flow (at year 5)     $125 $129 FAVORABLE
 Average ROI (at year 5)     15% 20.9% 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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