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Since we can’t all win the lottery… [Code: 457]

Posted by Powered by Simply Do It on May 22, 2024
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Why THIS deal??
  • ~$635/mo. cash flow once you can refi to 6.25% 
  • Cash flows at ~$374/mo. at today's rates of 7.125%
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  • 4-Plex Multi-Family Home with 10 bedrooms and 6 bathrooms (end units are 3 beds 1.5 baths. Middle units are 2 beds 1.5 baths)
  • Many cosmetic updates have already been completed for you
  • All 4 units are currently rented 
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area with strong rental market
  • Brand New Listing
  • Good schools
  • Offers will be accepted between Saturday, May 25th until Sunday, June 2nd at midnight. Please allow 24-48 hours to review the offers presented
  • No HOA charges
  • #cashflow  #appreciation

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

  • Built: 1985
  • Size:5,110 square foot home
  • Low Crime, Desirable Community, A/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: Kansas City

Team:  Chris – email directly at kc3@simplydoit.net

Code: 457

Property Specifications4Per Door
 Bedrooms103
 Bathrooms61.5
 Square Feet51101278
 Year Built1985 
 Garage Size41
 Schools Rating (scale 3-30, 30 is best)17 
Lot size (sq ft)               14,375 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$650,000$162,500
Suggested offer (low)$640,000$160,000
Suggested offer (high)$660,000$165,000
Asking$659,000$164,750
Market Value (after improvements)$659,000 
Estimated Improvements (lower)$8,000$2,000
Estimated Improvements (upper)$24,000$6,000
Estimated Closing Costs$6,500 
Estimated Mortgage Costs$5,233$1,308
Other Fees At Closing (pts, . . . )$4,5507%
Total Cost (estimated)$682,283$1,308

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$195,000
 Financed Amount$455,000
 Interest Rate 7.125%
 Mortgage Term (Years)30
 Monthly Mortgage Payment59.1%$3,065
 Cash Outlay (Total Out of Pocket) $227,283

Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$5,185$5,230$62,760
Rent (actual)*$5,140$61,680
    
Property Taxes $665$7,980
Insurance $200$2,400
Repairs75$400$4,800
Property Management Monthly (%)7.2% 
Property Management Monthly ($)$371$4,449
Leasing Fee68%$145.8$1,750
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses38.1%$1,974$23,690
Total Expenses (Fixed + Mortgage)$5,040$60,475

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate2.1%3.8%5.8%7.9%
 Net Cash Flow$22,418$82,563$186,952$343,189
 Equity Increase$168,908$379,894$644,412$977,396
 Total Gain$191,326$462,457$831,364$1,320,585
      
 Average Cash Flow/Year$4,484$8,256$12,463$17,159
 Average Cash Flow/Month$374$688$1,039$1,430
 Average Gain/Year$38,265$46,246$55,424$66,029
 Average ROI88.6%214.1%384.8%611.3%
 Annual ROI17.7%21.4%25.7%30.6%
 Projected Property Value$801,774$975,481$1,186,822$1,443,950

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1417FAVORABLE
 Square Feet  1,0005,110FAVORABLE
 Bedrooms  310FAVORABLE
 Bathrooms  26FAVORABLE
 Year Built  19701985FAVORABLE
 Average Cash Flow (at year 5)  $125$374FAVORABLE
 Average ROI (at year 5)  15%17.7%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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