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Have We Got a Deal for YOU!! [Code: 515]

Posted by Powered by Simply Do It on May 1, 2024
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Why THIS deal??
  • ~$480/mo. cash flow once you can refi to 5.25% 
  • Cash flows at ~$256/mo. at today's rates of 7.375%
  • Great Equity buy.  Similar property located 1/3 mile away on the market for over $90K more! 
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  • Single family home with 3 bedrooms and 2.5 bathrooms
  • EXCELLENT equity buy! 
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area and strong rental market
  • Property has been on the market 45+ days.  Great Negotiation Tool! 
  • A-rated schools!
  • This home will definitely need some updating, but the upside potential is great! 
  • Fully fenced backyard
  • Profits on this opportunity at the 10-year mark are $205K
  • No HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage
  • #lowprice   #equity  #valueadd

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

  • Built: 1977
  • Size: 2,256 square foot home
  • Low Crime, Desirable Community, A 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:  Kansas City

Team: Chris  – email directly at kc3@simplydoit.net

Code: 515

Property Specifications1
 Bedrooms3
 Bathrooms2.5
 Square Feet2256
 Year Built1977
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)20
Lot size (sq ft)                 9,521

Purchase AssumptionsMy Offer
Offer used for analysis$245,000
Suggested offer (low)$245,000
Suggested offer (high)$259,000
Asking$259,000
Market Value (after improvements)$280,000
Estimated Improvements (lower)$5,000
Estimated Improvements (upper)$15,000
Estimated Closing Costs$2,450
Estimated Mortgage Costs$1,972
Other Fees At Closing (pts, . . . )$1,715
Total Cost (estimated)$261,137

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$73,500
 Financed Amount$171,500
 Interest Rate 7.250%
 Mortgage Term (Years)30
 Monthly Mortgage Payment54.4%$1,170
 Cash Outlay (Total Out of Pocket) $89,637

Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$2,150$2,300$27,600
Rent (lower)*$2,000$24,000
    
Property Taxes $275$3,300
Insurance $150$1,800
Repairs75$100$1,200
Property Management Monthly (%)7.2% 
Property Management Monthly ($)$154$1,845
Leasing Fee68%$60.5$726
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses38.1%$819$9,829
Total Expenses (Fixed + Mortgage)$1,989$23,868

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate3.4%5.2%7.1%9.3%
 Net Cash Flow$15,337$46,315$95,636$166,452
 Equity Increase$70,303$157,946$267,603$405,361
 Total Gain$85,640$204,261$363,239$571,813
      
 Average Cash Flow/Year$3,067$4,632$6,376$8,323
 Average Cash Flow/Month$256$386$531$694
 Average Gain/Year$17,128$20,426$24,216$28,591
 Average ROI95.5%227.9%405.2%637.9%
 Annual ROI19.1%22.8%27.0%31.9%
 Projected Property Value$340,663$414,468$504,264$613,514

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1420FAVORABLE
 Square Feet  1,0002,256FAVORABLE
 Bedrooms  33FAVORABLE
 Bathrooms  22.5FAVORABLE
 Year Built  19701977FAVORABLE
 Average Cash Flow (at year 5)  $125$256FAVORABLE
 Average ROI (at year 5)  15%19.1%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, ac

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