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Price reduction in Kansas City, MO [code: 402]

Posted by Powered by Simply Do It on January 12, 2022
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  • Price recently reduced by $4,000
  • Property has been on the market for over 45 days.  Great opportunity for negotiation! 
  • Good local school district
  • New Carpet and paint
  • Fully fenced large back yard.  Perfect for families and pets
  • No (low) crime area
  • Easy access to I-169 and highway 
  • Walking distance to local elementary school
  • 9,500+ sq. foot lot 

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

  • Built: 2001
  • Size: 2,431+ sq ft sitting on a 9,500+ square foot lot
  • Quiet residential street, Desirable community, great schools
  • Little to no updates needed

Property Specifications 1
 Bedrooms 4
 Bathrooms 3
 Square Feet 2431
 Year Built 2001
 Garage Size 2
 Schools Rating (on scale of A-F) B

Purchase Assumptions My Offer
Offer used for analysis $321,000
Suggested offer (low) $318,000
Suggested offer (high) $321,000
Asking $321,000
Market Value (after improvements) $325,000
Improvements (lower) $1,500
Improvements (upper) $2,500
Closing Costs $3,200
Mortgage Costs $3,200
Other Fees At Closing $0
Total Cost  $329,400

Financial Assumptions Monthly Yearly
Rent (upper) $1,995 $2,095 $25,140
Rent (lower) $1,895 $22,740
 Property Tax Rate (Approx.) 1.4%  
 Property Taxes $280 $3,360
 Insurance $90 $1,080
 Repairs $75 $900
Variable-Cost PM 7.2%  
Property Management Fee $143 $1,712
 Leasing Fee   68% $56.1 $673
 HOA $15 $180
 Vacancy Rate 4.0%  
 Total Fixed Expenses $733 $8,794
 Total Expenses (Fixed + Mortgage) $1,801 $21,606

 

Financial Analysis / Deal Attractiveness        
Years: 5 10 15 20
 Cap Rate 3.3% 4.3% 5.2% 6.3%
 Net Cash Flow $14,759 $37,721 $69,741 $111,761
 Equity Increase $95,589 $211,092 $350,675 $519,380
 Total Gain $110,348 $248,813 $420,416 $631,141
           
 Average Cash Flow/Year $2,952 $3,772 $4,649 $5,588
 Average Cash Flow/Month $246 $314 $387 $466
 Average Gain/Year $22,070 $24,881 $28,028 $31,557
 Average ROI 124.5% 280.7% 474.2% 711.9%
 Annual ROI 24.9% 28.1% 31.6% 35.6%
 Projected Property Value $395,412 $481,079 $585,307 $712,115

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B B FAVORABLE
 Square Feet   1000 2,431 FAVORABLE
 Bedrooms   3 4 FAVORABLE
 Bathrooms   2 3 FAVORABLE
 Year Built     1970 2001 FAVORABLE
 Rent/Price (%)   0.75% 0.65% INSUFFICIENT
 Average Cash Flow (at year 5) $125 $246 FAVORABLE
 Average ROI (at year 5)   15% 24.9% FAVORABLE

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Metro: Kansas City

Team: Meredith/EJ

Code: 402

 

What's next?

Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.


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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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