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“Hi, do you remember me?” [Code: 534]

Posted by Powered by Simply Do It on May 28, 2024
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Why THIS deal??
  • ~$449/mo. cash flow once you can refi to 6.5% 
  • Cash flows at ~$291/mo. at today's rates of 7.25%
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  • Duplex with 6 bedrooms and 4 full bathrooms (each unit has 3 bedrooms/2 baths)
  • 6 Garages (each unit has 3 individual garages!)
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area with strong rental market
  • Property has been on the market for 125 days so there could be room for negotiations
  • Good schools
  • Was previously a part of a package deal and has recently been on the market by itself
  • No HOA charges
  • #cashflow  #appreciation

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

  • Built: 2001
  • Size:1,908 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: Kansas City

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

Code: 10700

Property Specifications2Per Door
 Bedrooms63
 Bathrooms42.0
 Square Feet1908954
 Year Built2001 
 Garage Size63
 Schools Rating (scale 3-30, 30 is best)22 
Lot size (sq ft)               12,632 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$450,000$225,000
Suggested offer (low)$450,000 
Suggested offer (high)$460,000$230,000
Asking$460,000$230,000
Market Value (after improvements)$465,000 
Estimated Improvements (lower)$4,000$2,000
Estimated Improvements (upper)$10,000$5,000
Estimated Closing Costs$4,500 
Estimated Mortgage Costs$3,623$1,811
Other Fees At Closing (pts, . . . )$3,1507%
Total Cost (estimated)$468,273$1,811

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$135,000
 Financed Amount$315,000
 Interest Rate 7.250%
 Mortgage Term (Years)30
 Monthly Mortgage Payment61.4%$2,149
 Cash Outlay (Total Out of Pocket) $153,273

Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$3,500$3,800$45,600
Rent (lower)*$3,200$38,400
    
Property Taxes $390$4,680
Insurance $200$2,400
Repairs75$150$1,800
Property Management Monthly (%)7.2% 
Property Management Monthly ($)$250$3,003
Leasing Fee68%$98.4$1,181
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses34.8%$1,219$14,624
Total Expenses (Fixed + Mortgage)$3,368$40,410

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate2.3%4.0%5.9%8.0%
 Net Cash Flow$17,468$61,144$135,502$245,762
 Equity Increase$118,451$266,437$452,043$685,839
 Total Gain$135,919$327,581$587,545$931,602
      
 Average Cash Flow/Year$3,494$6,114$9,033$12,288
 Average Cash Flow/Month$291$510$753$1,024
 Average Gain/Year$27,184$32,758$39,170$46,580
 Average ROI88.7%213.7%383.3%607.8%
 Annual ROI17.7%21.4%25.6%30.4%
 Projected Property Value$565,744$688,314$837,439$1,018,872

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1422FAVORABLE
 Square Feet  1,0001,908FAVORABLE
 Bedrooms  36FAVORABLE
 Bathrooms  24FAVORABLE
 Year Built  19702001FAVORABLE
 Average Cash Flow (at year 5)  $125$291FAVORABLE
 Average ROI (at year 5)  15%17.7%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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