- Updated On:
- November 17, 2021
- 6 Bedrooms
- 5 Bathrooms
- 2,800.00 ft2
- Year Built: 2021
- 5 duplexes are available – First Come First Serve
- 100% tax abatement* first 5 years
- 50% tax abatement for the next 5 years
- *tax incentive given to builder to build near downtown
- Duplexes are at the siding stage of construction and should be ready in 90-120 days (most likely in Dec.)
Available buildings are:
- 120/124 – under contract
- Do you have floor/sites plans – requested, waiting for the builder to send us
- What finishes/appliances are included:
- Fenced back yard?- NO
- Garage door opener? YES (rear entry and ally way then backyard)
- Fridge? NO
- Microwave? YES
- Blinds? OPTIONAL
- Do they have a backyard? YES IT IS ON THE OTHER SIDE OF THE ALLEYWAY, WILL SEE IN THE SITE PLAN
- What are the specs for flooring, kitchen, vanities? LVP WHOLE MAIN FLOOR AND CARPET UPSTAIRS GRANITE ON ALL COUNTERTOPS KITCHEN AND BATHROOMS
- Is the tax abatement done/approved OR is it still just a possibility? APPROVED
- How does the tax abatement work, do i pay in full and then get a refund or something else? WHEN TITLE IS TRANSFERRED COUNTY IS NOTIFIED AND THEN IT’S ACTIVATED
- What type of warranties does the builder provide – 1 YEAR WARRANTY
|Property Specifications||Per Door|
|Purchase Assumptions||My Offer||Per Door|
|Suggested offer (options)||$490,000||$245,000|
|Down Payment (%)||25%|
|Down Payment Amount||$122,500|
|Mortgage Term (Years)||30|
|Monthly Mortgage Payment||$1,650|
|Cash Outlay (Total Out of Pocket)||$130,000|
|Property Tax Rate (Approx.)||1.30%|
|Property Management Fee||$243||$2,917|
|Total Fixed Expenses||$838||$10,053|
|Total Expenses (Fixed + Mortgage)||$2,488||$29,855|
*based on 25% of the property tax rate for the next 10 years)
|Financial Analysis / Deal Attractiveness|
|Net Cash Flow||$60,997||$138,648|
|Average Cash Flow/Year||$12,199||$13,865|
|Average Cash Flow/Month||$1,017||$1,155|
|Projected Property Value||$596,160||$725,320|
- Can I buy with a mortgage?
- Yes, and we have preferred lenders for you to use if you wish.
- Do you know the condition of each unit internally?
- Not yet.
- Do you have a local property manager we can use?
- Yes, we sure do.
- Can I buy cash?
- Yes, of course.
- Can I buy more than 1 property?
- Is there a way for me to buy all and get financing for all of them under 1 mortgage?
- Generally speaking yes, and we have a lender who may be able to do it.
Site Visit Photos [Aug. 11 2021]
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.