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KC Equity Opportunity Duplex. Check it Out!

Posted by Powered by Simply Do It on September 19, 2024
0

Why This Property?

  • ~$265/mo. cash flow once you can refi to 5.5%
  • Cash flows at ~$164/mo. at today’s rates of 6.0%

 

Highlights

  • Duplex with 6 bedrooms and 4 full bathrooms (each unit has 3 bedrooms/2 bedrooms)
  • Instant equity of $40k-$50k on day one!
  • Identical duplex sold 9/2024 for $510k
  • Location has quick access to major commuting routes, shopping, and schools
  • Property is being sold at a discount to a seasoned investor who is willing to work on potential existing HOA issues – Inquire for specifics.
  • Highly appreciating area with strong rental market
  • Off-Market Opportunity with another SDI Investor
  • Fully leased on both sides! 
  • Completely TURNKEY with little to no work needed at turn around
  • Unit A lease ends on 3/31/2025 and Unit B lease ends on 4/30/2025
  • Off-market
  • Direct Sale – Seller is looking to sell internally without an agent, however, if a buyer wants to use one that is available.
  • #cashflow  #appreciation  #turnkey  #multiplex

 

LOCATION

  • Approx 2 miles from the 70 & 435 intersection – south of Independence and north of Raytown.

 

 

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

  • Built: 2021
  • Size:2,800 approx. square foot home (each side approx. 1,400 square feet)
  • 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:  Dani – email directly at meet@simplydoit.net

Code: 4536

 

 

Financial Details

 

Property Specifications2Per Door
 Bedrooms63
 Bathrooms42.0
 Square Feet28001400
 Year Built2021
 Garage Size42
 Schools Rating (on scale of A-C)B

 


Purchase AssumptionsMy OfferPer Door
Offer used for analysis$465,000$232,500
Suggested offer (low)$475,000$225,000
Suggested offer (high)$485,000$232,500
Asking$465,000$232,500
Market Value (after improvements)$510,000
Improvements (lower)$2,000$1,000
Improvements (upper)$4,000$2,000
Closing Costs$4,650
Mortgage Costs$4,650$2,325
Other Fees At Closing$0
Total Cost$477,300

Financing Assumptions
 Down Payment (%)30%
 Down Payment Amount$139,500
 Financed Amount$325,500
 Interest Rate  (5/6 ARM)6.000%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,952
 Cash Outlay (Total Out of Pocket)$151,800

Financial AssumptionsMonthlyYearly
Rent (actual)$2,976$2,976$35,712
Rent (actual)$2,975$35,700
Property Tax Rate (Approx.)1.4%
Property Taxes$355$4,260
Insurance$85$1,020
Repairs$100$1,200
Variable-Cost PM7.0%
Property Management Fee$208$2,499
Leasing Fee68%$83.7$1,004
HOA/utilities/lawn/snow$0$0
Vacancy Rate4.0%
Total Fixed Expenses$943$11,312
 Total Expenses (Fixed + Mortgage)$2,894$34,730

Financial Analysis / Deal Attractiveness
Years:5101520
 Cap Rate1.3%2.2%3.1%4.1%
 Net Cash Flow$9,856$32,924$70,580$124,343
 Equity Increase$133,101$298,028$502,718$757,193
 Total Gain$142,957$330,952$573,299$881,536
 Average Cash Flow/Year$1,971$3,292$4,705$6,217
 Average Cash Flow/Month$164$274$392$518
 Average Gain/Year$28,591$33,095$38,220$44,077
 Average ROI94.2%218.0%377.7%580.7%
 Annual ROI18.8%21.8%25.2%29.0%
 Projected Property Value$620,493$754,925$918,481$1,117,473

Property Ratings Suggestions
 Item Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 SchoolsBBFAVORABLE
 Square Feet10002,800FAVORABLE
 Bedrooms36FAVORABLE
 Bathrooms24FAVORABLE
 Year Built19702021FAVORABLE
 Rent/Price (%)0.75%0.64%INSUFFICIENT
 Average Cash Flow (at year 5)$125$164FAVORABLE
 Average ROI (at year 5)15%18.8%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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