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Beautiful Duplex with TONS of potential! [Code: 514]

Posted by Powered by Simply Do It on April 25, 2022
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After 15 Years (no mortgage)  
Original purchase price $325,000
Total investment (out of pocket) $100,250
15 yrs Project house value $612,321
Value (appreciation) Gain $287,321
15 yrs cash-flow generated $93,937
Total Gain $381,258
ROI (15 yrs) 380%
ROI (annually) 25%
   
Free & Clear cash flow (yr.) $25,653
Free & Clear cash flow (m) $2,138
  • Ranch-style duplex  
  • One unit is a 3 bedroom/2 bath (with a finished basement) and the other is a 2 bedroom/1 bath (with an unfinished basement)
  • Property is unoccupied on one side and tenant occupied on the other side
  • Each unit has a separate fenced backyard
  • Over $335/mo. cash flow 
  • 1-car attached garage with each unit
  • New paint
  • One unit needs updating and has the unfinished basement to add potential square footage if completed
  • Prime family location with restaurants/parks/medical nearby
  • Award winning A-rated schools
  • 0.28 acre lot

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

  • Built: 1991
  • Size: 2,504  sq ft
  • Quiet residential street, 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: Meredith – email directly at kc1@simplydoit.net

            Code: 514



            Property Specifications 2 Per Door
             Bedrooms 5 3/2
             Bathrooms 3 2/1
             Square Feet 2504 1252
             Year Built 1991  
             Garage Size 2
             Schools Rating (on scale of A-F) A  

            Purchase Assumptions My Offer Per Door
            Offer used for analysis $325,000 $162,500
            Suggested offer (low) $350,000 $175,000
            Suggested offer (high) $400,000 $200,000
            Asking $325,000 $162,500
            Market Value (after improvements) $340,000  
            Improvements (lower) $10,000 $5,000
            Improvements (upper) $15,000 $7,500
            Closing Costs $3,250  
            Mortgage Costs $3,250 $1,625
            Other Fees At Closing $0 $0
            Total Cost  $344,000 $1,625

            Financial Assumptions Monthly Yearly
            Rent (upper) $2,650 $2,800 $33,600
            Rent (lower) $2,500 $30,000
             Property Tax Rate (Approx.) 1.4%  
             Property Taxes $267 $3,209
             Insurance $200 $2,400
             Repairs $200 $2,400
            Variable-Cost PM 7.2%  
            Property Management Fee $189 $2,274
             Leasing Fee 68% $74.5 $894
             HOA $0 $0
             Vacancy Rate 4.0%  
             Total Fixed Expenses $1,030 $12,358
             Total Expenses (Fixed + Mortgage) $2,376 $28,510

            Financial Analysis / Deal Attractiveness        
            Years: 5 10 15 20
             Cap Rate 4.1% 5.1% 6.2% 7.4%
             Net Cash Flow $20,416 $51,364 $93,937 $149,347
             Equity Increase $92,798 $207,285 $348,634 $523,281
             Total Gain $113,214 $258,648 $442,571 $672,628
                       
             Average Cash Flow/Year $4,083 $5,136 $6,262 $7,467
             Average Cash Flow/Month $340 $428 $522 $622
             Average Gain/Year $22,643 $25,865 $29,505 $33,631
             Average ROI 112.9% 258.0% 441.5% 671.0%
             Annual ROI 22.6% 25.8% 29.4% 33.5%
             Projected Property Value $413,662 $503,283 $612,321 $744,982

            Property Ratings Suggestions
             Item      Suggested Criteria (Min.) This Property FAVORABLE /
            INSUFFICIENT
             Schools     B A FAVORABLE
             Square Feet   1000 2,504 FAVORABLE
             Bedrooms   3 5 FAVORABLE
             Bathrooms   2 3 FAVORABLE
             Year Built   1970 1991 FAVORABLE
             Rent/Price (%)   0.75% 0.86% FAVORABLE
             Average Cash Flow (at year 5) $125 $340 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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