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Perfect Beginner Investment in KC! [Code: 1400]

Posted by Powered by Simply Do It on April 3, 2024
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Why THIS deal??
  • ~$370/mo. cash flow once you can refi to 5.25% 
  • Cash flows at ~$205/mo. at today's rates of 6.875%
  • LOW Price Point Entry
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  • Single family home with 4 bedrooms and 2 bathrooms
  • Low entry price point which is great for a beginner investor
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area and strong rental market
  • New Property on the Market.  It won't last long! 
  • Good schools!
  • Fully fenced backyard
  • Fire Hydrant in the front yard helping to reduce fire damage risk
  • No HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage
  • #cashflow  #price  #beginner

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

  • Built: 1972
  • Size: 1,474 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: 1400

Property Specifications1
 Bedrooms4
 Bathrooms2
 Square Feet1474
 Year Built1972
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)13
Lot size (sq ft)                 7,841

Purchase AssumptionsMy Offer
Offer used for analysis$225,000
Suggested offer (low)$235,000
Suggested offer (high)$220,000
Asking$229,979
Market Value (after improvements)$230,000
Estimated Improvements (lower)$4,000
Estimated Improvements (upper)$8,000
Estimated Closing Costs$2,250
Estimated Mortgage Costs$1,811
Other Fees At Closing (pts, . . . )$1,575
Total Cost (estimated)$236,636
Original listing date4/1/2024
DOM (days on market – TODAY)2

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$67,500
 Financed Amount$157,500
 Interest Rate 6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment57.5%$1,035
 Cash Outlay (Total Out of Pocket) $79,136

Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$1,800$1,900$22,800
Rent (lower)*$1,700$20,400
    
Property Taxes $145$1,740
Insurance $150$1,800
Repairs75$100$1,200
Property Management Monthly (%)7.2% 
Property Management Monthly ($)$129$1,544
Leasing Fee68%$50.6$608
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses35.6%$641$7,694
Total Expenses (Fixed + Mortgage)$1,676$20,110

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate3.1%4.8%6.7%8.8%
 Net Cash Flow$12,310$38,005$79,376$139,096
 Equity Increase$59,272$133,201$225,704$341,849
 Total Gain$71,583$171,206$305,080$480,945
      
 Average Cash Flow/Year$2,462$3,801$5,292$6,955
 Average Cash Flow/Month$205$317$441$580
 Average Gain/Year$14,317$17,121$20,339$24,047
 Average ROI90.5%216.3%385.5%607.7%
 Annual ROI18.1%21.6%25.7%30.4%
 Projected Property Value$279,830$340,456$414,217$503,958

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1413INSUFFICIENT
 Square Feet  1,0001,474FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19701972FAVORABLE
 Average Cash Flow (at year 5)  $125$205FAVORABLE
 Average ROI (at year 5)  15%18.1%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, 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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