Duplex, Duplexes, Houses, Multi Family, Package, Rental

8 Rented Duplexes in Dallas Fort Worth

$ 360,000 for a 6/4 duplex

Fort Worth, TX, Dallas Fort Worth

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Rented

Overview

Updated On:
December 17, 2021

6 Bedrooms

2 Bathrooms

Year Built: 1984

Property Description

Read First

This package includes 8 rented (occupied) duplexes – i.e. 16 doors.
Seller prefers to sell them as a group (if possible).
Seller won’t permits showings without accepted offer.
The information listed below is based on public info + info provided by the seller’s agent – As always w/ such package – info provider or info obtained online is not 100% accurate
Simply Do It’s team has not been to the site/s yet.
Located 15 mins N to downtown Fort Worth TX – excellent location within the metro.
Pricing is per building/property.
OUR GOAL IS TO GROUP MULTIPLE INVESTORS AND BUY ALL 8 DUPLEXES AND achieve A BETTER PRICING
- Buying priority will be given to inventors or a group that will buy multiple/all properties.
- Buying can be done CASH or with financing.
Properties are clustered in on two separate streets, next to each other and in the same community
There are TWO types of duplexes:
- 6 bedrooms / 4 Bathrooms per duplex (3/2 per unit/door)
- 4 bedrooms / 4 Bathrooms per duplex (2/2 per unit/door)
- Each duplex has 2 car garage (1 garage per unit/door)
Duplexes were built in 1984/5
IF YOU HAVE A 1031 EXCHANGE OR CONSIDERING ONE – THIS can be AN EXCELLENT OPPORTUNITY!

Analysis/The Upside

Current rents are LOW than market rent (we suspect tenants are legacy tenants and have been there a long time reflecting low rents)
The analysis is done based on ASKING’s price and based on adjusted market rent (not based on current rent)
We don’t have leases info at the moment

Rents – explanation

Current rent – what the actual rent is right now
Market rent – what the market would pay assuming the property is on good condition
- For a 3 bedrooms 2 bathrooms: 3/2 $1600-$1700 ($3200-$3400 per duplex)
- For a 2 bedrooms 2 bathrooms: 3/2 $1400-$1500 ($2800-$3000 per duplex)
Adjusted market Rent – what we (SDI) are using for analysis
- For a 3 bedrooms 2 bathrooms: 3/2 $1500-$1600 ($3000-$3200 per duplex)
- For a 2 bedrooms 2 bathrooms: 3/2 $1300-$1400 ($2600-$2800 per duplex)

The following questions were sent to the seller – we are still waiting on answers:

Do you have seller disclosures?
Do you have a list of known repairs, known issues, major issues?
Do you have a list of improvements made and when?
Any known issues w/ any of the tenants?
Is it owner-managed or professionally managed?
Are there signed leases for each occupied unit?
Are there security deposits for each occupied unit?

Buying Preference

Priority will be given to a buyer/s who will buy multiple duplexes.

Group buy

If you have a group of investors interested in buying this entire package as one entity we can help you accomplish that, and can assist with securing funding too.

Next Steps

Active Simply Do It’s investors – text/email for more info such as an address, full analysis, and questions.
Non-active investors – email/call/text with questions about this opportunity and to find out what you need to do to join the Simply Do It program and benefit from this and many other opportunities.

Pricing

Unit #	Current Rent	Beds	Baths	Asking	Sq Ft	Adjusted market Rent
101	$1,300	3	2	$180,000	1,156	$1,500	$1,600
103	$1,200	3	2	$180,000	1,156	$1,500	$1,600
Total	$2,500	6	4	$360,000	2,312	$3,000	$3,200

109	$1,150	2	2	$160,000	1,016	$1,300	$1,400
111	$1,150	2	2	$160,000	1,016	$1,300	$1,400
Total	$2,300	4	4	$320,000	2,032	$2,600	$2,800

121	$1,200	3	2	$180,000	1,156	$1,500	$1,600
123	$1,200	3	2	$180,000	1,156	$1,500	$1,600
Total	$2,400	6	4	$360,000	2,312	$3,000	$3,200

800	$1,125	2	2	$160,000	1,034	$1,300	$1,400
802	$1,100	2	2	$160,000	1,034	$1,300	$1,400
Total	$2,225	4	4	$320,000	2,068	$2,600	$2,800

804– Mi.He.	$1,320	3	2	$180,000	1,161	$1,500	$1,600
806– Mi.He.	$1,250	3	2	$180,000	1,161	$1,500	$1,600
Total	$2,570	6	4	$360,000	2,322	$3,000	$3,200

808	$1,200	2	2	$160,000	1,034	$1,300	$1,400
810	$1,100	2	2	$160,000	1,034	$1,300	$1,400
Total	$2,300	4	4	$320,000	2,068	$2,600	$2,800

812	$1,200	3	2	$180,000	1,156	$1,500	$1,600
814	$1,100	3	2	$180,000	1,156	$1,500	$1,600
Total	$2,300	6	4	$360,000	2,312	$3,000	$3,200

824	$1,250	3	2	$180,000	1,156	$1,500	$1,600
826	$1,100	3	2	$180,000	1,156	$1,500	$1,600
Total	$2,350	6	4	$360,000	2,312	$3,000	$3,200

Total	$18,945	42	32	$2,760,000	17,738	$22,800	$24,400

Analysis for a 4/4 Duplex (2 beds / 2 baths per side)

purchase Assumptions	My Offer	Per Door
Offer used for analysis	$320,000	$160,000
Suggested offer (low)	$320,000	$160,000
Suggested offer (high)	$320,000	$160,000
Asking	$320,000	$160,000
Market Value (after improvements)	$320,000
Improvements (lower)	$6,500	$3,250
Improvements (upper)	$8,500	$4,250
Closing Costs	$4,000	$2,000
Mortgage Costs	$4,000	$2,000
Other Fees At Closing	$0	$0
Total Cost	$335,500	$2,000

purchase Assumptions	My Offer	Per Door
Offer used for analysis	$320,000	$160,000
Suggested offer (low)	$320,000	$160,000
Suggested offer (high)	$320,000	$160,000
Asking	$320,000	$160,000
Market Value (after improvements)	$320,000
Improvements (lower)	$6,500	$3,250
Improvements (upper)	$8,500	$4,250
Closing Costs	$4,000	$2,000
Mortgage Costs	$4,000	$2,000
Other Fees At Closing	$0	$0
Total Cost	$335,500	$2,000

Financial Assumptions		Monthly	Yearly
Rent (upper)	$2,700	$2,800	$33,600
Rent (lower)		$2,600	$31,200
Property Tax Rate (Approx.)		2.3%
Property Taxes		$300	$3,600
Insurance		$150	$1,800
Repairs		$150	$1,800
Variable-Cost PM		Flat Fee
Property Management Fee		$200	$2,400
Leasing Fee	80%	$90.0	$1,080
HOA		$0	$0
Vacancy Rate		4.0%
Total Fixed Expenses		$990	$11,880
Total Expenses (Fixed + Mortgage)		$2,054	$24,652

Financial Analysis / Deal Attractiveness
Years:	5	10
Cap Rate	9.0%	10.2%
Net Cash Flow	$42,926	$96,966
Equity Increase	$94,428	$208,520
Total Gain	$137,354	$305,486

Average Cash Flow/Year	$8,585	$9,697
Average Cash Flow/Month	$715	$808
Average Gain/Year	$27,471	$30,549
Average ROI	143.8%	319.9%
Annual ROI	28.8%	32.0%
Projected Property Value	$389,329	$473,678

Property Ratings Suggestions
Item	Suggested Criteria (Min.)	This Property	FAVORABLE / INSUFFICIENT
Schools	B	B	FAVORABLE
Square Feet	1000	2312	FAVORABLE
Bedrooms	3	4	FAVORABLE
Bathrooms	2	4	FAVORABLE
Year Built	1970	1985	FAVORABLE
Rent/Price (%)	0.75%	0.88%	FAVORABLE
Average Cash Flow (at year 5)	$125	$715	FAVORABLE
Average ROI (at year 5)	15%	28.8%	FAVORABLE

Analysis for a 6/4 Duplex (3 beds / 2 baths per side)

Property Specifications	2	Per Door
Bedrooms	6	3
Bathrooms	4	2.0
Square Feet	2312	1156
Year Built	1985
Garage Size	2	1
Schools Rating (on scale of A-F)	B

purchase Assumptions	My Offer	Per Door
Offer used for analysis	$360,000	$180,000
Suggested offer (low)	$360,000	$180,000
Suggested offer (high)	$360,000	$180,000
Asking	$360,000	$180,000
Market Value (after improvements)	$360,000
Improvements (lower)	$6,500	$3,250
Improvements (upper)	$8,500	$4,250
Closing Costs	$4,000	$2,000
Mortgage Costs	$4,000	$2,000
Other Fees At Closing	$0	$0
Total Cost	$375,500	$2,000

Financing Assumptions
Down Payment (%)			25%
Down Payment Amount			$90,000
Financed Amount			$270,000
Interest Rate			3.40%
Mortgage Term (Years)			30
Monthly Mortgage Payment			$1,197
Cash Outlay (Total Out of Pocket)			$105,500

Financial Assumptions		Monthly	Yearly
Rent (upper)	$3,100	$3,200	$38,400
Rent (lower)		$3,000	$36,000
Property Tax Rate (Approx.)		2.3%
Property Taxes		$300	$3,600
Insurance		$150	$1,800
Repairs		$150	$1,800
Variable-Cost PM		Flat Fee
Property Management Fee		$200	$2,400
Leasing Fee	80%	$103.3	$1,240
HOA		$0	$0
Vacancy Rate		4.0%
Total Fixed Expenses		$1,019	$12,232
Total Expenses (Fixed + Mortgage)		$2,217	$26,601

Financial Analysis / Deal Attractiveness
Years:	5	10
Cap Rate	11.0%	12.3%
Net Cash Flow	$58,091	$129,705
Equity Increase	$106,231	$234,585
Total Gain	$164,322	$364,289

Average Cash Flow/Year	$11,618	$12,970
Average Cash Flow/Month	$968	$1,081
Average Gain/Year	$32,864	$36,429
Average ROI	155.8%	345.3%
Annual ROI	31.2%	34.5%
Projected Property Value	$437,995	$532,888

Property Ratings Suggestions
Item	Suggested Criteria (Min.)	This Property	FAVORABLE / INSUFFICIENT
Schools	B	B	FAVORABLE
Square Feet	1000	2312	FAVORABLE
Bedrooms	3	6	FAVORABLE
Bathrooms	2	4	FAVORABLE
Year Built	1970	1985	FAVORABLE
Rent/Price (%)	0.75%	0.89%	FAVORABLE
Average Cash Flow (at year 5)	$125	$968	FAVORABLE
Average ROI (at year 5)	15%	31.2%	FAVORABLE

FAQ

How much is the HOA?
- No HOA
Can I buy with a mortgage?
- Yes, and we have preferred lenders for you to use if you wish.
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?
- Yes.
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.

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.