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Cha-Ching!! You won’t believe how this 4-plex performs! [Code: 4104]

Posted by Powered by Simply Do It on July 2, 2024
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Why THIS deal??
  • ~$1,434/mo. cash flow once you can refi to 6.25% 
  • Cash flows at ~$1,264/mo. at today's rates of 6.875%

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  • Quad-plex with 6 bedrooms and 5 full bathrooms
  • Recent price drop of $20K on 7/1/2024
  • 1/2 acre lot
  • Location has quick access to major commuting routes, shopping and schools
  • Highly appreciating area with strong rental market
  • Property has been on the market for 13 days
  • Two updated 2 bedroom, 1.5 bath units, each with direct access to a deck. Additionally, there are two 1 bedroom, 1 bath units located in the daylight basement
  • You can MORE than double your money in 5 years!! 
  • Figures are using current rents, not estimates. 
  • Will need to get bids on filling in the pool
  • No HOA charges
  • #cashflow  #appreciation  #Turnkey

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

  • Built: 1977
  • Size:4,500 square foot home
  • Low Crime, Desirable Community, B/C 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:  Nashville

Team: Fred  – email directly at nash1@simplydoit.net

Code: 4104

Property Specifications4Per Door
 Bedrooms62
 Bathrooms51.3
 Square Feet45001125
 Year Built1977 
 Garage Size00
 Schools Rating (scale 3-30, 30 is best)9 
Lot size (sq ft)27,300 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$590,000$147,500
Suggested offer (low)$563,500$140,875
Suggested offer (high)$590,000$147,500
Asking$590,000$147,500
Market Value (after improvements)$592,500 
Estimated Improvements (lower)$11,000$2,750
Estimated Improvements (upper)$13,000$3,250
Estimated Closing Costs$5,900 
Estimated Mortgage Costs$4,750$1,187
Other Fees At Closing (pts, . . . )$4,1307%
Total Cost (estimated)$616,780$1,187

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$177,000
 Financed Amount$413,000
 Interest Rate 6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment52.9%$2,713
 Cash Outlay (Total Out of Pocket) $203,780

Estimated Financial AssumptionsYearly

Rent (actual)*
$5,125$5,125$61,500
Rent (lower)*$5,125$61,500
    
Property Taxes $300$3,600
Insurance $190$2,280
Repairs75$200$2,400
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$410$4,920
Leasing Fee50%$106.8$1,281
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses27.2%$1,395$16,744
Total Expenses (Fixed + Mortgage)$4,108$49,302

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate7.4%9.4%11.7%14.1%
 Net Cash Flow$75,831$192,414$356,526$576,052
 Equity Increase$153,127$344,189$583,350$883,770
 Total Gain$228,959$536,604$939,875$1,459,822
      
 Average Cash Flow/Year$15,166$19,241$23,768$28,803
 Average Cash Flow/Month$1,264$1,603$1,981$2,400
 Average Gain/Year$45,792$53,660$62,658$72,991
 Average ROI112.4%263.3%461.2%716.4%
 Annual ROI22.5%26.3%30.7%35.8%
 Projected Property Value$720,867$877,045$1,067,059$1,298,240

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 149INSUFFICIENT
 Square Feet  1,0004,500FAVORABLE
 Bedrooms  36FAVORABLE
 Bathrooms  25FAVORABLE
 Year Built  19701977FAVORABLE
 Average Cash Flow (at year 5)  $125$1,264FAVORABLE
 Average ROI (at year 5)  15%22.5%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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