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.
Property Id : 40993
Price: $ 360,000 for a 6/4 duplex
Bedrooms: 6
Bathrooms: 2
Year Built: 1984
Garage: Per duplex
Garage Size: 2
Basement: none
External Construction: Brick
Roofing: Composition
Other Features
fenced yard
fireplace
Address: Fort Worth, TX
Area: Dallas Fort Worth
State/County: TX
Zip: 76201
Country: United States
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Overview
- Updated On:
- July 19, 2022
- 6 Bedrooms
- 2 Bathrooms
- Year Built: 1984
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Property Reviews
2 Reviews
Posted by support@simplydoit.net
Posted on 17 December 2021
The Tax rate % is so YOU would know what the area's tax rate, BUT it is not the % we use for calculation the tax rate.
Estimating the tax rate in TX is a bit of art & science.
If we use the straight %*purchase price we'd get a # that is 2x or 3x from last year property taxes - and that's never the actual case.
So what we do is we check last year property taxes and use x1.25, unless last year was exceptionally low which indicates there's an exemption.
TX law says tax assessment are not allowed to use (or see) prices and must be done separately from property price.
If you read all the way to this point (kudos) you now know why I said art&science.
Posted by Arik
Posted on 17 December 2021
Hi, a question - in the Financial Assumption table, the rent seems to be per duplex, is the property tax per duplex or per unit? (It says it’s 2.3% but the math doesn’t work)