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Brand NEW Duplex Looking for You! [Code: 514]

Posted by Powered by Simply Do It on January 17, 2023
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Why THIS deal??
  • ~$506/mo. cash flow once you can refi to 5.0% 
  • Cash flows at ~$287/mo. at today's rates of 6.375%
  • Has been on the market for 75 days.  Great negotiation tool!
  • BRAND NEW build and one unit is rented already
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After 15 Years (no mortgage)
Original purchase price $335,000
Total investment (out of pocket) $93,450
15 yrs Project house value $612,141
Value (appreciation) Gain $277,141
15 yrs cash-flow generated $87,592
Total Gain $364,733
ROI (15 yrs) 390%
ROI (annually) 26%
   
Free & Clear cash flow (yr.) $28,211
Free & Clear cash flow (m) $2,351
  • Duplex with two 3 bedroom, 2 bathroom units
  • Top unit rented on 1-year lease for $1225/mo.
  • Military and college area for decent rental market
  • All utilities are tenant paid
  • Utility lines run in the front of the homes on this street
  • Each unit has a laundry room with hookups
  • No HOA charges
  • 0.33 acre lot


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

  • Built: 2022
  • Size: 2400 square foot
  • Low Crime, Desirable Community

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 6 3
 Bathrooms 4 2.0
 Square Feet 2400 1200
 Year Built 2022  
 Garage Size 0 Covered spaces
 Schools Rating (on scale of A-C) B/C  

Purchase Assumptions My Offer Per Door
Offer used for analysis $335,000 $167,500
Suggested offer (low) $335,000 $167,500
Suggested offer (high) $339,900 $169,950
Asking $339,900 $169,950
Market Value (after improvements) $339,900  
Improvements (lower) $2,000 $1,000
Improvements (upper) $4,000 $2,000
Closing Costs $3,350 $1,675
Mortgage Costs $3,350 $1,675
Other Fees At Closing $0  
Total Cost  $344,700  

Financing Assumptions  
 Down Payment (%) 25%
 Down Payment Amount $83,750
 Financed Amount $251,250
 Interest Rate  (5/6 ARM) Multi-family 6.375%
 Mortgage Term (Years) 30
 Monthly Mortgage Payment $1,567
 Cash Outlay (Total Out of Pocket) $93,450

Financial Assumptions Monthly Yearly
Rent (upper) $2,500 $2,550 $30,600
Rent (lower) $2,450 $29,400
Property Tax Rate (Approx.) 1.4%  
Property Taxes   $125 $1,500
Insurance   $155 $1,860
Repairs   $100 $1,200
Variable-Cost PM   7.0%  
Property Management Fee $175 $2,100
Leasing Fee 68% $70.3 $844
Estimated utilities   $0 $0
Vacancy Rate   4.0%  
Total Fixed Expenses $718 $8,620
 Total Expenses (Fixed + Mortgage) $2,286 $27,429

Financial Analysis / Deal Attractiveness      
Years: 5 10 15 20
 Cap Rate 3.7% 4.9% 6.2% 7.7%
 Net Cash Flow $17,215 $46,011 $87,592 $143,290
 Equity Increase $90,034 $202,157 $342,122 $517,290
 Total Gain $107,249 $248,168 $429,714 $660,580
           
 Average Cash Flow/Year $3,443 $4,601 $5,839 $7,165
 Average Cash Flow/Month $287 $383 $487 $597
 Average Gain/Year $21,450 $24,817 $28,648 $33,029
 Average ROI 114.8% 265.6% 459.8% 706.9%
 Annual ROI 23.0% 26.6% 30.7% 35.3%
 Projected Property Value $413,540 $503,135 $612,141 $744,763

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B B/C FAVORABLE
 Square Feet     1000 2,400 FAVORABLE
 Bedrooms     3 6 FAVORABLE
 Bathrooms     2 4 FAVORABLE
 Year Built     1970 2022 FAVORABLE
 Rent/Price (%)     0.75% 0.76% FAVORABLE
 Average Cash Flow (at year 5)     $125 $287 FAVORABLE
 Average ROI (at year 5)     15% 23.0% 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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