Downtown Living at its Finest in KC! [Code 905]
- ~$681/mo. cash flow once you can refi to 5.0%
- Cash flows at ~$337 at today's rates of 6.275%
- Has been on the market for 5 days. New listing
- Built in 1992. Many multi-units are much older in KC
| After 15 Years (no mortgage) | |||
| Original purchase price | $580,000 | ||
| Total investment (out of pocket) | $168,600 | ||
| 15 yrs Project house value | $1,053,552 | ||
| Value (appreciation) Gain | $473,552 | ||
| 15 yrs cash-flow generated | $119,125 | ||
| Total Gain | $592,677 | ||
| ROI (15 yrs) | 352% | ||
| ROI (annually) | 23% | ||
| Free & Clear cash flow (yr.) | $45,874 | ||
| Free & Clear cash flow (m) | $3,823 | ||
- Fourplex. Each unit is 1 bedroom/1 bath and around 700 square feet
- Your target tenant will be a young professional with no kids
- We are awaiting interior pictures and seller's disclosures
- Walking distance to EVERYTHING downtown KC has to offer
- NO short term rental permitted
- Current Rents: Unit A $1,138, Unit B $1,100, Unit C $1,105 and Unit D $1,163
- Units A-C have deposits of $400 each and Unit D is $700
- Fully occupied on month-to-month basis
- Each unit comes with its own gated and secured parking space
- Full size washer/dryer in each unit
- Selling AS-IS
Why should you consider this house / what makes it a good investment?
- Built: 1992
- Size: 2800 square foot property
- Desirable Downtown Location
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: 905
| Property Specifications | 4 | Per Door |
| Bedrooms | 4 | 1 |
| Bathrooms | 4 | 1.0 |
| Square Feet | 2800 | 700 |
| Year Built | 1992 | |
| Secured spot | 4 | 1 |
| Schools Rating (on scale of A-C) | C |
| Purchase Assumptions | My Offer | Per Door |
| Offer used for analysis | $580,000 | $145,000 |
| Suggested offer (low) | $580,000 | $145,000 |
| Suggested offer (high) | $585,000 | $146,250 |
| Asking | $580,000 | $145,000 |
| Market Value (after improvements) | $585,000 | |
| Improvements (lower) | $8,000 | $2,000 |
| Improvements (upper) | $16,000 | $4,000 |
| Closing Costs | $5,800 | $1,450 |
| Mortgage Costs | $5,800 | $1,450 |
| Other Fees At Closing | $0 | |
| Total Cost | $603,600 | $1,450 |
| Financing Assumptions | |||
| Down Payment (%) | 25% | ||
| Down Payment Amount | $145,000 | ||
| Financed Amount | $435,000 | ||
| Interest Rate (5/6 ARM) Multi-family | 6.250% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | $2,678 | ||
| Cash Outlay (Total Out of Pocket) | $168,600 | ||
| Financial Assumptions | Monthly | Yearly | |
| Rent (upper) | $4,750 | $5,000 | $60,000 |
| Rent (lower) | $4,500 | $54,000 | |
| Property Tax Rate (Approx.) | 1.4% | ||
| Property Taxes | $250 | $3,000 | |
| Insurance | $150 | $1,800 | |
| Repairs | $300 | $3,600 | |
| Variable-Cost PM | 7.0% | ||
| Property Management Fee | $333 | $3,990 | |
| Leasing Fee | 68% | $133.6 | $1,603 |
| HOA/utilities | $510 | $6,120 | |
| Vacancy Rate | 4.0% | ||
| Total Fixed Expenses | $1,853 | $22,234 | |
| Total Expenses (Fixed + Mortgage) | $4,531 | $54,374 | |
| Financial Analysis / Deal Attractiveness | |||||
| Years: | 5 | 10 | 15 | 20 | |
| Cap Rate | 2.4% | 3.5% | 4.7% | 6.0% | |
| Net Cash Flow | $20,224 | $59,279 | $119,125 | $201,925 | |
| Equity Increase | $155,725 | $349,509 | $591,177 | $893,263 | |
| Total Gain | $175,949 | $408,788 | $710,302 | $1,095,189 | |
| Average Cash Flow/Year | $4,045 | $5,928 | $7,942 | $10,096 | |
| Average Cash Flow/Month | $337 | $494 | $662 | $841 | |
| Average Gain/Year | $35,190 | $40,879 | $47,353 | $54,759 | |
| Average ROI | 104.4% | 242.5% | 421.3% | 649.6% | |
| Annual ROI | 20.9% | 24.2% | 28.1% | 32.5% | |
| Projected Property Value | $711,742 | $865,943 | $1,053,552 | $1,281,807 | |
| Property Ratings Suggestions | |||||
| Item | Suggested Criteria (Min.) | This Property | FAVORABLE / INSUFFICIENT | ||
| Schools | B | C | INSUFFICIENT | ||
| Square Feet | 1000 | 2,800 | FAVORABLE | ||
| Bedrooms | 3 | 4 | FAVORABLE | ||
| Bathrooms | 2 | 4 | FAVORABLE | ||
| Year Built | 1970 | 1992 | FAVORABLE | ||
| Rent/Price (%) | 0.75% | 0.86% | FAVORABLE | ||
| Average Cash Flow (at year 5) | $125 | $337 | FAVORABLE | ||
| Average ROI (at year 5) | 15% | 20.9% | FAVORABLE | ||
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.