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Good Lawd…..look at this Quad! [Code: 3104]

Posted by Powered by Simply Do It on February 3, 2023
2 Comments
 
Questions?- jump to the FAQs

Why THIS deal??

  • ~$1,197/mo. cash flow once you can refi to 5.0% 
  • Cash flows at ~$709/mo. at today’s rates of 6.25% 
  • Newly listed property.  It won’t last! 
  • Fully remodeled and absolutely beautiful on the inside
 
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After 15 Years (no mortgage)
Original purchase price$825,000
Total investment (out of pocket)$229,100
15 yrs Project house value$1,485,778
Value (appreciation) Gain$660,778
15 yrs cash-flow generated$188,466
Total Gain$849,245
ROI (15 yrs)370.69%
ROI (annually)24.71%
  
Free & Clear cash flow (yr.)$66,703
Free & Clear cash flow (m)$5,559
  • Fourplex with two 3 bedroom, 1 bath units and two 4 bedroom, 1 bath units
  • Days on the market: 2 as of 2/3/2023
  • Very desirable location for young professionals
  • Front door faces a large park
  • No fire or flood zone
  • 2 tenants will be moving soon and will give the new owner the opportunity to raise rents to market level
  • Awaiting updated details on HVAC unit ages and roof replacement from seller’s agent
  • Estimates for owner paid utilities is around $350/mo for water/trash/sewer (pending verification)
  • Fully remodeled in 2022 which means little to no maintenance for a new buyer.  We still estimated $400/mo. in the spreadsheet for conservative long-term cash flow estimates.
  • New Plumbing and Electrical in 2022
  • In-unit washer/dryers
  • No HOA charges
  • 4 space off-street parking pad

 

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

  • Built: 1922 (gut rehabbed in 2022)
  • Size: 4,417 square foot building
  • Desirable Community, Good Schools, Highly Appreciating Neighborhood

 

What’s next?

Email/text/leave a comment below and we will get back to you.
 

meet@simplydoit.net, property code:  3104

 

Property Specifications4Per Door
 Bedrooms – 4 FAMILY143/4 bed units
 Bathrooms – 4 FAMILY41.0
 Square Feet4,4171104
 Year Built1922 
 Garage Size04-spaces
 Schools Rating (on scale of A-C)C 

 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$825,000$206,250
Suggested offer (low)$825,000$206,250
Suggested offer (high)$825,000$206,250
Asking$825,000$206,250
Market Value (after improvements)$825,000 
Improvements (lower)$4,000$1,000
Improvements (upper)$8,000$2,000
Closing Costs$8,250 
Mortgage Costs$8,250 
Other Fees At Closing$350 
Total Cost $847,850$2,063

   

Financing Assumptions 
 Down Payment (%)25%
 Down Payment Amount$206,250
 Financed Amount$618,750
 Interest Rate (5/6 ARM)6.250%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$3,810
 Cash Outlay (Total Out of Pocket)$229,100
    
Financial AssumptionsMonthlyYearly
Rent (upper) $6,760$7,000$84,000
Rent (lower)$6,519$78,228
Property Tax Rate (Approx.)2.5% 
Property Taxes $400$4,800
Insurance $300$2,000
Repairs $400$4,800
Variable-Cost PM 7.5% 
Property Management Fee$507$6,084
Leasing Fee75%$211.2$2,535
Utilities  $350$4,200
Vacancy Rate 4.0% 
Total Fixed Expenses$2,418$29,020
 Total Expenses (Fixed + Mortgage)$6,228$74,737

   

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate3.7%4.9%6.3%7.7%
 Net Cash Flow$42,516$113,249$215,135$351,417
 Equity Increase$219,964$493,731$835,203$1,262,119
 Total Gain$262,481$606,980$1,050,338$1,613,536
      
 Average Cash Flow/Year$8,503$11,325$14,342$17,571
 Average Cash Flow/Month$709$944$1,195$1,464
 Average Gain/Year$52,496$60,698$70,023$80,677
 Average ROI114.6%264.9%458.5%704.3%
 Annual ROI22.9%26.5%30.6%35.2%
 Projected Property Value$1,003,739$1,221,202$1,485,778$1,807,677

    

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools  BCINSUFFICIENT
 Square Feet  10004,417FAVORABLE
 Bedrooms  314FAVORABLE
 Bathrooms  24FAVORABLE
 Year Built  19701922INSUFFICIENT
 Rent/Price (%)  0.75%0.85%FAVORABLE
 Average Cash Flow (at year 5)  $125$709FAVORABLE
 Average ROI (at year 5)  15%22.9%FAVORABLE

   

FAQs

Q: Can I purchase using financing?
A: Yes 

Q: Do you have a lender?
A: Yes, and you can use your picked lender as well

Q: Is there an inspection report?
A: Not at the moment, but as part of the buying process an inspection will be order (at buyer’s expense)

Q: I’m not local, who will assist me with buying?
A: Being a part of Simply Do It we have
– Vetted local agent we use to represent our client-buyer when buying local properties. We have being working with this agent for a long time and done many transactions together.
– Vetted local property management company that will handle getting the property ready for rental (if needed), leasing and screen tenants, ongoing management. PM is managing many Simply Do It’s clients properties. 

Q: Do you provide any guarantees? 
A: No!

Q: Who will own the property?
A: You, your LLC or entity or however you decide to take title to it.

Q: Can I travel to see it?
A: Of course. 

A: I want to even more details and specific, how do I obtain more info?
Q: We will try to provide answers as much as we can, but to get full details you need to enroll in the Simply Do It program. 

Q: I have more questions about Simply Do It, the local market in general,  misc. question about investing, or to see if this is even a good fit for me as an investor, what do I do?
A: We invite you to speak with us for 30-40 mins call in which we can discuss your needs, address your questions and concerns, and together explore if this is a good fit for all of us. Simply complete the pre-meeting intake on SimplyDoIt.net/intake

Q: Can I be added to your mailing list, so I can see other opportunities? 
A: Of course: subscribe here: eepurl.com/fuIw2

Q: Where can I find more about Simply Do It and real estate investing?
A: YouTube channel, podcast in Hebrew, podcast in English

 

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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. 

2 thoughts on “Good Lawd…..look at this Quad! [Code: 3104]

  • Dan B
    on February 3, 2023

    if a buyer wants to do an STR/Airbnb, is it allowed by the city? does it require a permit/city approval?

    • Dan B
      on February 3, 2023

      No extra permits. Automatically allowed by city.
      3+beds are ideal for STR.
      Here’s the property manager I use to manage my STR
      Our local agent in St Louis personally has Airbnb locally and have resource to manage it if you need.

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