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Seller’s agent did a poor job = Your Chance for a Great Rental [code 689]

Posted by Dan B on February 5, 2024
0
Metro St Louis MO
 
Here's an opportunity to own a turn key rental in the hottest/fastest appreciating county in Missouri that is poorly marketed
Don't miss more fun . . . on our Telegram 
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Why Do These Pictures Suck?! Why is this a deal…?
  • Pictures from a phone, cluttered home, and not highlighting the space detracts most untrained buyers! 
  • Look closely and you'll see a kitchen in good shape, vaulted ceilings, a finished basement with over 600sqft that's not marketed, a new roof, and beautiful floors
  1. The listing agent did not enter/calculate the finished lower level in total living area, so it's not 1043sqft, it's over 1600sqft! 
  2. This home also is not allowing showings without proof of pre-approval. adding another hurdle for most buyers. 
  3. Poor quality photos + low number of photos + inaccurate property description + extra hurdles for buyers = where YOU can take advantage and secure this investment property! 

* seller is not offering full buyer agent commission – which will just be added to the settlement statement at closing, and ALREADY CALCULATED in the spreadsheet numbers. 🙂 

Why I love this property:
✅ Ranch

✅ Finished Basement

✅ over 1600 sqft
✅ cul de sac
✅ GREAT school district (22/30)
✅ Fastest appreciating county in Missouri
✅ Poor Marketing
✅ New Roof
✅ Newer Appliances
✅ Newer HVAC system
Next Step?
  • Want more info – lest us know specific question or if you'd like to view the Excel
  • Want to put an offer? Let us know and we'll contact you with Nathan
AProperty Specifications1
 Bedrooms4
 Bathrooms2.5
 Square Feet1043+
 Year Built1995
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)22
Lot size (sq ft)4487
BPurchase AssumptionsMy Offer
Offer used for analysis$275,000
Suggested offer (low)$275,000
Suggested offer (high)$277,000
Asking$280,000
Market Value (after improvements)$285,000
Estimated Improvements (lower)$5,000
Estimated Improvements (upper)$8,000
Estimated Closing Costs$2,750
Estimated Mortgage Costs$2,214
*Other Fees At Closing (pts, . . . )$3,795
Total Cost (estimated)$290,259
Original listing date1/20/24
DOM (days on market – TODAY)16
D
Rent (upper)*
$2,175$2,250$27,000
Rent (lower)*$2,100$25,200
    
Property Taxes $210$2,520
Insurance $150$1,800
Repairs75$100$1,200
Property Management Monthly (%)7.5% 
Property Management Monthly ($)$163$1,958
Leasing Fee75%$68.0$816
HOA or Fixed Costs $0$0
Vacancy Rate 4.0% 
Total Fixed Expenses35%$772$9,259
 Total Expenses (Fixed + Mortgage)$2,020$24,241

1Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate3.1%4.8%6.6%8.7%
 Net Cash Flow$15,165$46,497$96,759$169,178
 Equity Increase$73,535$165,165$279,675$423,234
 Total Gain$88,700$211,662$376,434$592,411
      
 Average Cash Flow/Year$3,033$4,650$6,451$8,459
 Average Cash Flow/Month$253$387$538$705
 Average Gain/Year$17,740$21,166$25,096$29,621
 Average ROI90.7%216.5%385.1%606.0%
 Annual ROI18.1%21.7%25.7%30.3%
 Projected Property Value$346,746$421,870$513,269$624,470

3Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best)  1422FAVORABLE
 Square Feet  1,0001043+FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  22.5FAVORABLE
 Year Built  19701995FAVORABLE
 Average Cash Flow (at year 5)  $125$253FAVORABLE
 Average ROI (at year 5)  15%18.1%FAVORABLE
What's happening in STL?
  • 3.6% Median home price increased from 2022
  • 1.5 month supply of inventory (has not changed much since 2020)
  • 23 Days on market average (Same as 2022 average)
  • 14% decrease in new listings from last year
What all that means, is we are still severely lacking inventory and homes are STILL selling quickly on average and increasing in value. Our brokerage is expecting 2024 to bring even more buyers into the market as interest rates continue to decline and people who stayed on the sidelines in 2023 enter the market. Causing an increased imbalance of supply and demand. 
In short, expect prices to slowly increase with a limited number of homes available. 

Let me know if you're interested in this property
 

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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