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Rare find in St. Louis Metro under $200K! [Code: 1601]

Posted by Powered by Simply Do It on October 4, 2022
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Why THIS deal??
  • Been on the market for 53 days.  Great for price negotiation
  • ~$230/mo cash flow
  • Priced under $200K!  A RARE find these days
  • Very little work needed to make this lease-ready
  • Price dropped by $6K on 9/29/2022
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After 15 Years (no mortgage)
Original purchase price $190,000
Total investment (out of pocket) $56,750
15 yrs Project house value $348,843
Value (appreciation) Gain $158,843
15 yrs cash-flow generated $62,632
Total Gain $221,475
ROI (15 yrs) 390%
ROI (annually) 26%
   
Free & Clear cash flow (yr.) $16,356
Free & Clear cash flow (m) $1,363

  • 3 bedroom, 1 bath Single Family Home
  • Updated from top to bottom in 2021
  • Good school district
  • .Back on the Market due to no fault of the Seller.  An inspection has most likely been completed already
  • Home updates include laminate flooring throughout , six panel doors, white trim, windows, bathroom tub/shower combo & vanity, kitchen countertops and appliances, roof, siding, HVAC, and lighting
  • No HOA fees
  • Highly appreciating neighborhood
  • Detached oversized 2-car garage
  • 8,891 square foot lot


Why should you consider this house / what makes it a good investment?

  • Built: 1985
  • Size: 980 square foot 
  • Low Crime, desirable community, B rated schools


What's next?

Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.

Metro: St. Louis

Team: Nathan – email directly at stl1@simplydoit.net

Code: 1601


Property Specifications 1
 Bedrooms 3
 Bathrooms 1
 Square Feet 980
 Year Built 1985
 Garage Size 2
 Schools Rating (on scale of A-C) B

Purchase Assumptions My Offer
Offer used for analysis $190,000
Suggested offer (low) $190,000
Suggested offer (high) $193,700
Asking $193,700
Market Value (after improvements) $193,700
Improvements (lower) $3,500
Improvements (upper) $5,500
Closing Costs $1,900
Mortgage Costs $1,900
Other Fees At Closing $950
Total Cost  $199,250

Financing Assumptions  
 Down Payment (%) 25%
 Down Payment Amount $47,500
 Financed Amount $142,500
 Interest Rate for 15/30 ARM (fixed for 15 years) 5.875%
 Mortgage Term (Years) 30
 Monthly Mortgage Payment $843
 Cash Outlay (Total Out of Pocket) $56,750

Financial Assumptions Monthly Yearly
Rent (upper) $1,550 $1,600 $19,200
Rent (lower) $1,500 $18,000
Property Tax Rate (Approx.) 1.0%  
Property Taxes   $120 $1,440
Insurance   $100 $1,200
Repairs   $75 $900
Variable-Cost PM   7.5%  
Property Management Fee $116 $1,395
Leasing Fee 75% $48.4 $581
HOA   $0 $0
Vacancy Rate   4.0%  
Total Fixed Expenses $517 $6,204
 Total Expenses (Fixed + Mortgage) $1,360 $16,320


Financial Analysis / Deal Attractiveness        
Years: 5 10 15 20
 Cap Rate 4.9% 6.1% 7.4% 8.7%
 Net Cash Flow $13,930 $34,575 $62,632 $98,873
 Equity Increase $52,070 $116,671 $196,947 $296,862
 Total Gain $66,000 $151,246 $259,579 $395,736
           
 Average Cash Flow/Year $2,786 $3,457 $4,175 $4,944
 Average Cash Flow/Month $232 $288 $348 $412
 Average Gain/Year $13,200 $15,125 $17,305 $19,787
 Average ROI 116.3% 266.5% 457.4% 697.3%
 Annual ROI 23.3% 26.7% 30.5% 34.9%
 Projected Property Value $235,666 $286,723 $348,843 $424,421

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B B FAVORABLE
 Square Feet     1000 980 INSUFFICIENT
 Bedrooms     3 3 FAVORABLE
 Bathrooms     2 1 INSUFFICIENT
 Year Built     1970 1985 FAVORABLE
 Rent/Price (%)     0.75% 0.84% FAVORABLE
 Average Cash Flow (at year 5)     $125 $232 FAVORABLE
 Average ROI (at year 5)     15% 23.3% FAVORABLE

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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. 

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