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Cash flowing 4-plex in KC with land to expand!! [Code: 401-407]

Posted by Powered by Simply Do It on March 19, 2024
0
Why THIS deal??
  • ~$710/mo. cash flow once you can refi to 6.0% 
  • Cash flows at ~$398/mo. at today's rates of 7.375%
  • Almost completely renovated
  • 6 Additional plots of land included to build 6 more duplexes in the future! 

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  • 4-plex (mixture of 2 and 3 bedroom units)
  • 75% Renovated
  • Great location with quick access to major commuting routes, shopping and school
  • 6 ADDITIONAL plots of land big enough to build a duplex on each plot.  Plots have already been subdivided!
  • Good schools
  • No HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 1-car garage for EACH UNIT!  (total of 4 garage spaces)

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

  • Built: 1974
  • Size: 4464 square foot property
  • Low Crime, Desirable Community, B Rated Schools

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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: Chris  – email directly at kc3@simplydoit.net

Code: 401-407

Property Specifications4Per Door
 Bedrooms103
 Bathrooms61.5
 Square Feet44641116
 Year Built1974 
 Garage Size41
 Schools Rating (scale 3-30, 30 is best)13 
Lot size (sq ft)               77,952 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$490,000$122,500
Suggested offer (low)$490,000$122,500
Suggested offer (high)$499,900$124,975
Asking$499,900$125,000
Market Value (after improvements)$500,000 
Estimated Improvements (lower)$10,000$2,500
Estimated Improvements (upper)$25,000$6,250
Estimated Closing Costs$4,900 
Estimated Mortgage Costs$3,945$986
Other Fees At Closing (pts, . . . )$3,4307%
Total Cost (estimated)$519,775$986
Original listing date2/28/2024 
DOM (days on market – TODAY)20 

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$147,000
 Financed Amount$343,000
 Interest Rate 7.375%
 Mortgage Term (Years)30
 Monthly Mortgage Payment57.8%$2,369
 Cash Outlay (Total Out of Pocket) $176,775

Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$4,100$4,200$50,400
Rent (lower)*$4,000$48,000
    
Property Taxes $300$3,600
Insurance $180$2,160
Repairs75$400$4,800
Property Management Monthly (%)7.2% 
Property Management Monthly ($)$293$3,518
Leasing Fee68%$115.3$1,384
HOA or Fixed Costs$75$900
Vacancy Rate 4.0% 
Total Fixed Expenses37.0%$1,516$18,189
Total Expenses (Fixed + Mortgage)$3,885$46,617

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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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