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High-end duplex property is just a click away! [Code: 405]

Posted by Powered by Simply Do It on July 2, 2024
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Why THIS deal??
  • ~$209/mo. cash flow once you can refi to 6.25% 
  • Cash flows at ~$70/mo. at today's rates of 6.875%

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  • Duplex with 6 bedrooms and 4 full bathrooms  (Each unit has 3 bedrooms and 2 bathrooms)
  • Price has been dropped by $6k since the original listing date
  • Fully occupied
  • Location has quick access to major commuting routes, shopping and schools
  • Fenced in side yards for each unit
  • Highly appreciating area with strong rental market
  • Property has been on the market for 63 days.  This could allow some room for negotiations
  • Newly renovated which includes new flooring throughout
  • Newer appliances included
  • Good schools
  • Waiting to verify if there are any lender paid utilities
  • No HOA charges
  • #appreciation  #turnkey

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

  • Built: 1985
  • Size:2,656 square foot home
  • Low Crime, Desirable Community, 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: 405

Property Specifications2Per Door
 Bedrooms63
 Bathrooms42.0
 Square Feet26561328
 Year Built1985 
 Garage Size21
 Schools Rating (scale 3-30, 30 is best)16 
Lot size (sq ft)               10,019 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$484,000$242,000
Suggested offer (low)$480,000$240,000
Suggested offer (high)$498,000$249,000
Asking$494,000$247,000
Market Value (after improvements)$500,000 
Estimated Improvements (lower)$3,000$1,500
Estimated Improvements (upper)$10,000$5,000
Estimated Closing Costs$4,840 
Estimated Mortgage Costs$3,896$1,948
Other Fees At Closing (pts, . . . )$3,3887%
Total Cost (estimated)$502,624$1,948

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$145,200
 Financed Amount$338,800
 Interest Rate 6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$2,226
 Cash Outlay (Total Out of Pocket) $163,824

Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$3,212$3,300$39,600
Rent (lower)*$3,124$37,488
    
Property Taxes $325$3,900
Insurance $150$1,800
Repairs75$150$1,800
Property Management Monthly (%)7.2% 
Property Management Monthly ($)$230$2,756
Leasing Fee68%$90.3$1,084
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses$1,064$12,771
Total Expenses (Fixed + Mortgage)$3,290$39,480

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate0.5%2.0%3.7%5.5%
 Net Cash Flow$4,192$32,786$89,926$180,442
 Equity Increase$128,639$289,051$489,718$741,607
 Total Gain$132,830$321,837$579,644$922,050
      
 Average Cash Flow/Year$838$3,279$5,995$9,022
 Average Cash Flow/Month$70$273$500$752
 Average Gain/Year$26,566$32,184$38,643$46,102
 Average ROI81.1%196.5%353.8%562.8%
 Annual ROI16.2%19.6%23.6%28.1%
 Projected Property Value$608,326$740,122$900,472$1,095,562

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1416FAVORABLE
 Square Feet  1,0002,656FAVORABLE
 Bedrooms  36FAVORABLE
 Bathrooms  24FAVORABLE
 Year Built  19701985FAVORABLE
 Average Cash Flow (at year 5)  $125$70INSUFFICIENT
 Average ROI (at year 5)  15%16.2%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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