AWESOME Duplex Opportunity in St. Louis Area

$ 230,000
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Overview

  • Updated On:
  • December 23, 2020
  • 6 Bedrooms
  • 3 Bathrooms
  • 2,800.00 ft2
  • Year Built: 2009

Property Description

Location: call for address

Asking: $230,000 ($115,000 per door | per side)

There are 4 duplexes left in this area that is in desperate need of rentals!!

Units were built in 2009.

Tenants are already in all of the units except one (tenant has already been found but not moved in).

Tenants pay for all utilities including water, sewer and trash.

Only thing the owner pays for is landscaping which is $30 per mow in spring and summer.

It is likely that a new Toyota plant will open near to these units which could then help new owner to increase the rent in the near future.

Units are rented out at $950 each.

Recently identical units have all sold for listing price so we don’t believe the seller will take less since the other buildings are under contract at list price.
Here are the units available:

Street Unit Comments
Building K 10 vacant; tenant has already been found but not moved in
K 12
Building N 17
N 19
Building N 21
N 23 (not updated)
Building N 25
N 27

 

Property Specifications Duplex
 Bedrooms 3 6
 Bathrooms 1.5 3
 Square Feet 1401 2802
 Year Built 2009
 Garage Size 0

 

Purchase Assumptions My Offer
Asking $230,000
Suggsted offer (low) $230,000
Suggsted offer (high) $230,000
Suggsted offer (options) $230,000
Land Value (%) 25%
Building Value (%) 75%
 Market Value (after improvements) $230,000
 Improvements (lower) $3,500
 Improvements (upper) $5,500
 Closing Costs $2,500
 Mortgage Costs $2,500
 Other Fees At Closing $0
 Total Cost $239,500

 

Financing Assumptions
 Down Payment (%) 20%
 Down Payment Amount $46,000
 Financed Amount $184,000
 Interest Rate 3.50%
 Mortgage Term (Years) 30
 Monthly Mortgage Payment $826
 Cash Outlay (Total Out of Pocket) $55,500

 

Financial Assumptions Monthly Yearly
Rent (upper) $1,900 $1,900 $22,800
Rent (lower) $1,900 $22,800
 Property Tax Rate (Approx.) 1.12%
 Property Taxes $214 $2,565
 Insurance $80 $960
 Repairs $65 $780
Variable-Cost PM 7.5%
Property Management Fee $143 $1,710
 Leasing Fee 75% $59 $713
 HOA $30 $360
 Vacancy Rate 4.0%
 Total Fixed Expenses $661 $7,931
 Total Expenses (Fixed + Mortgage) $1,487 $17,846

 

Financial Analysis / Deal Attractiveness
Years: 5
 Cap Rate 10.0%
 Net Cash Flow $27,806
 Equity Increase $68,787
 Total Gain $96,594
 Average Cash Flow/Year $5,561
 Average Cash Flow/Month $463
 Average Gain/Year $19,319
 Average ROI 174.0%
 Annual ROI 34.8%
 Projected Property Value $279,830

 

Disclaimer

This 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. The author of this analysis spreadsheet is not responsible nor liable for any damages arising from the use of the tool.

Area:
State/County:
Zip: 63367
Country: United States
Open In Google Maps
Property Id : 27373
Price: $ 230,000
Property Size: 2,800.00 ft2
Bedrooms: 6
Bathrooms: 3
Year Built: 2009
Garage: 0
Garage Size: 0
Rent (mo): 1900
ROI (ann): 17
Cashflow (mo): 460
Property Taxes (mo): 215
Insurance (mo): 100
Repairs (mo): 100
Management Fee (mo): 143
Leasing Fee (ann): 715
HOA (mo): 30
Vacancy Rate (ann): 4
walkscore0 / Car-Dependent more details here

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