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Check out this historical duplex!! [Code: 3909]

Posted by Powered by Simply Do It on May 6, 2022
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After 15 Years (no mortgage)  
Original purchase price $259,900
Total investment (out of pocket) $75,023
15 yrs Project house value $455,459
Value (appreciation) Gain $195,559
15 yrs cash-flow generated $90,152
Total Gain $285,710
ROI (15 yrs) 381%
ROI (annually) 25%
   
Free & Clear cash flow (yr.) $21,661
Free & Clear cash flow (m) $1,805
  • 4 Bedroom, 2 bathroom Duplex (two-2 bedroom/1 bathroom units)
  • Adding stackable washer/dryer in units would be a great value add if the space allows
  • Detached 2-car garage
  • Tenant occupied 
  • ~ $350/mo. cash flow 
  • Walkability score of 79 (most errands can be accomplished on foot)
  • Boiler system removed and converted to Central Heating & Cooling, Electrical & Plumbing upgrades, New windows in front, New water heaters
  • Prime family location with restaurants/shopping/activities nearby
  • Your primary renter will most likely be a young professional
  • 3,528 square foot lot

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

  • Built: 1929
  • Size: 2,384
  • Quiet residential street, 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: St. Louis

            Team: Alicia – email directly at stl2@simplydoit.net

            Code: 3909


            Property Specifications 2 Per Door
             Bedrooms – 2 Family – 2 BR Units 4 2
             Bathrooms – 2 Family – 1 BA Units 2 1.0
             Square Feet 2384 1192
             Year Built 1929
             Garage Size 2
             Schools Rating (on scale of A-C) C

            Purchase Assumptions My Offer Per Door
            Offer used for analysis $259,900 $129,950
            Suggested offer (low) $249,900 $124,950
            Suggested offer (high) $259,900 $129,950
            Asking $249,900 $124,950
            Market Value (after improvements) $252,900
            Improvements (lower) $3,000 $1,500
            Improvements (upper) $6,000 $3,000
            Closing Costs $2,599
            Mortgage Costs $2,599 $1,300
            Other Fees At Closing $350 $175
            Total Cost  $269,948 $1,300

            Financial Assumptions Monthly Yearly
            Rent (upper) $2,398 $2,600 $31,200
            Rent (lower) 1,030/1,165 per unit $2,195 $26,340
             Property Tax Rate (Approx.) 1.4%
             Property Taxes $176 $2,108
             Insurance $150 $1,800
             Repairs $200 $2,400
            Variable-Cost PM 7.5%
            Property Management Fee $180 $2,158
             Leasing Fee 75% $74.9 $899
             HOA // Utilities $160 $1,920
             Vacancy Rate 4.0%
             Total Fixed Expenses $1,029 $12,353
             Total Expenses (Fixed + Mortgage) $2,106 $25,270

            Financial Analysis / Deal Attractiveness        
            Years: 5 10 15 20
             Cap Rate 5.6% 6.7% 8.0% 9.4%
             Net Cash Flow $20,850 $50,592 $90,152 $140,551
             Equity Increase $70,094 $156,641 $263,584 $395,836
             Total Gain $90,944 $207,233 $353,736 $536,386
             Average Cash Flow/Year $4,170 $5,059 $6,010 $7,028
             Average Cash Flow/Month $348 $422 $501 $586
             Average Gain/Year $18,189 $20,723 $23,582 $26,819
             Average ROI 121.2% 276.2% 471.5% 715.0%
             Annual ROI 24.2% 27.6% 31.4% 35.7%
             Projected Property Value $307,692 $374,354 $455,459 $554,135

            Property Ratings Suggestions
             Item  Suggested Criteria (Min.) This Property FAVORABLE /
            INSUFFICIENT
             Schools B C INSUFFICIENT
             Square Feet 1000 2,384 FAVORABLE
             Bedrooms 3 4 FAVORABLE
             Bathrooms 2 2 FAVORABLE
             Year Built 1970 1929 INSUFFICIENT
             Rent/Price (%) 0.75% 1.00% FAVORABLE
             Average Cash Flow (at year 5) $125 $348 FAVORABLE
             Average ROI (at year 5) 15% 24.2% 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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