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Look at this Beauty! [Code: 2552]

Posted by Powered by Simply Do It on June 27, 2023
0
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Why THIS deal??
  • ~$392/mo. cash flow once you can refi to 5.0% 
  • Cash flows at ~$232/mo. at today's rates of 6.5%
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Mortgage Acceleration
Applying your ann. cashflow (EPP*)$2,787
Applying your mo. cashflow (EPP*)$232
Years to payoff mortgage 19
Interest paid over 30 years$211,331
Int. paid in 19 yrs, using EPP$119,753
Your int. savings$91,578
If you make an extra payment every year of $2,787 you will pay off your mortgage in 19 years, and save $91,578 on interest.
  • 3 bedroom, 2.5 bath Townhome 
  • Great location with quick access to major commuting routes, shopping and schools
  • End unit townhome with great wood deck off the back
  • Very convenient for commuters and access to shopping
  • Highly rated schools
  • No HOA charges
  • Property is located fairly close to a highway, but the noise level is listed as medium.  Does not seem to pose a rentability issue.  Will need to do more due diligence if an offer is made. 


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

  • Built: 2015
  • Size: 1,446 square foot home
  • Low Crime, Desirable Community, Good 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: Birmingham

Team: Carter  – email directly at bir1@simplydoit.net

Code: 2552

Property Specifications1
 Bedrooms3
 Bathrooms2.5
 Square Feet1446
 Year Built2015
 Garage Size0
 Schools Rating (on scale of A-C)B

Purchase AssumptionsMy Offer
Offer used for analysis$239,000
Suggested offer (low)$230,000
Suggested offer (high)$239,000
Asking$239,000
Market Value (after improvements)$239,000
Improvements (lower)$1,000
Improvements (upper)$3,000
Closing Costs$2,390
Mortgage Costs$2,390
Other Fees At Closing (pts, . . . )$2,390
Total Cost $248,170
Original listing date6/23/23
DOM (days on market – TODAY)4

Financing Assumptions 
 Down Payment (%)30%
 Down Payment Amount$71,700
 Financed Amount$167,300
 Interest Rate 6.500%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,057
 Cash Outlay (Total Out of Pocket) $80,870
Future refi rate:5.250%$924$134

Financial AssumptionsMonthlyYearly
Rent (upper)$1,750$1,800$21,600
Rent (lower)$1,700$20,400
Property Tax Rate (Approx.) . 
Property Taxes $175$2,097
Insurance $100$1,200
Repairs $75$900
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$83$1,000
Leasing Fee60%$43.8$525
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses31%$543$6,518
 Total Expenses (Fixed + Mortgage)$1,601$19,208

Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate3.4%5.1%7.0%9.1%
 Net Cash Flow$13,935$41,552$85,170$147,494
 Equity Increase$62,469$140,248$237,334$358,851
 Total Gain$76,404$181,800$322,504$506,345
      
 Average Cash Flow/Year$2,787$4,155$5,678$7,375
 Average Cash Flow/Month$232$346$473$615
 Average Gain/Year$15,281$18,180$21,500$25,317
 Average ROI94.5%224.8%398.8%626.1%
 Annual ROI18.9%22.5%26.6%31.3%
 Projected Property Value$290,780$353,778$430,425$523,678

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools  BBFAVORABLE
 Square Feet  1,0001,446FAVORABLE
 Bedrooms  33FAVORABLE
 Bathrooms  22.5FAVORABLE
 Year Built  19702015FAVORABLE
 Rent/Price (%)  0.75%0.75%FAVORABLE
 Average Cash Flow (at year 5)  $125$232FAVORABLE
 Average ROI (at year 5)  15%18.9%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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