8 Rented Duplexes in Dallas Fort Worth

$ 360,000 for a 6/4 duplex
Fort Worth, TX,
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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:

  1. Do you have seller disclosures?
  2. Do you have a list of known repairs, known issues, major issues?
  3. Do you have a list of improvements made and when?
  4. Any known issues w/ any of the tenants?
  5. Is it owner-managed or professionally managed?
  6. Are there signed leases for each occupied unit?
  7. 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

  1. Active Simply Do It’s investors – text/email for more info such as an address, full analysis, and questions.
  2. 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.

Address: Fort Worth, TX
State/County:
Zip: 76201
Country: United States
Open In Google Maps
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
walkscore72 / Very Walkable more details here

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