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Fixer Upper Opportunity in Greater Tennessee Metro [Code: 1611]

Posted by Powered by Simply Do It on April 12, 2024
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Why THIS deal??
  • ~$502/mo. cash flow once you can refi to 5.25% 
  • Cash flows at $285/mo. at today's rates of 7.0%
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  • Single family home with 4 bedrooms and 3 bathrooms
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area and strong rental market
  • Newly listed on the MLS
  • Great schools!
  • Fully fenced backyard
  • Large 0.25 acre lot
  • No HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage
  • #lowprice  #valueadd

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

  • Built: 1972
  • Size: 2,000 square foot home
  • Low Crime, Desirable Community, A/B 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: 1611

Property Specifications1
 Bedrooms4
 Bathrooms3
 Square Feet2000
 Year Built1972
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)21
Lot size (sq ft)10710

Purchase AssumptionsMy Offer
Offer used for analysis$274,900
Suggested offer (low)$262,850
Suggested offer (high)$274,900
Asking$274,900
Market Value (after improvements)$309,000
Estimated Improvements (lower)$19,000
Estimated Improvements (upper)$27,000
Estimated Closing Costs$2,749
Estimated Mortgage Costs$2,213
Other Fees At Closing (pts, . . . )$1,924
Total Cost (estimated)$304,786
Original listing date4/12/24
DOM (days on market – TODAY)0

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$82,470
 Financed Amount$192,430
 Interest Rate 7.000%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,280
 Cash Outlay (Total Out of Pocket) $112,356

Estimated Financial Assumptions
 MonthlyYearly
Rent (upper)*$2,100$2,150$25,800
Rent (lower)*$2,050$24,600
    
Property Taxes $100$1,200
Insurance $145$1,740
Repairs75$100$1,200
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$168$2,016
Leasing Fee50%$43.8$525
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses30%$634$7,608
 Total Expenses (Fixed + Mortgage)$1,914$22,971

Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate3.0%4.5%6.1%7.9%
 Net Cash Flow$17,072$50,438$102,832$177,439
 Equity Increase$78,238$175,696$297,487$450,224
 Total Gain$95,310$226,134$400,319$627,663
      
 Average Cash Flow/Year$3,414$5,044$6,855$8,872
 Average Cash Flow/Month$285$420$571$739
 Average Gain/Year$19,062$22,613$26,688$31,383
 Average ROI84.8%201.3%356.3%558.6%
 Annual ROI17.0%20.1%23.8%27.9%
 Projected Property Value$375,946$457,395$556,492$677,057

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1421FAVORABLE
 Square Feet  1,0002,000FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  23FAVORABLE
 Year Built  19701972FAVORABLE
 Average Cash Flow (at year 5)  $125$285FAVORABLE
 Average ROI (at year 5)  15%17.0%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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