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Take Advantage of the Market and Put That CASH IN YOUR Pocket! [Code: 208]

Posted by Powered by Simply Do It on December 11, 2023
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Why THIS deal??
  • ~$250/mo. cash flow once you can refi to 6.0% 
  • Cash flows at ~$47 at today's rates of 7.375%
  • Instant Equity of ~$15k
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  • Single family home with 3 bedrooms and 2 bathrooms
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area
  • Price has already been reduced by $15k since the original listing date
  • Property has been on the market 45+ days.  Great for negotiation purposes. 
  • highly rated schools
  • Located at the end of a cul-de-sac
  • Close proximity to a great area for outdoor enthusiasts and families who love to stay active with either biking, fishing, swimming, hiking, walking
  • Low HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage


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

  • Built: 1995
  • Size: 1,838 square foot home
  • Low Crime, Desirable Community, Highly 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: Birmingham

Team: Joel  – email directly at bir2@simplydoit.net

Code: 208

Property Specifications1
 Bedrooms3
 Bathrooms2
 Square Feet1838
 Year Built1995
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)25
Lot size (sq ft)9583

Purchase AssumptionsMy Offer
Offer used for analysis$320,000
Suggested offer (low)$320,000
Suggested offer (high)$330,000
Asking$334,900
Market Value (after improvements)$340,000
Estimated Improvements (lower)$6,500
Estimated Improvements (upper)$8,500
Estimated Closing Costs$3,200
Estimated Mortgage Costs$2,576
Other Fees At Closing (pts, . . . )$2,240
Total Cost (estimated)$335,516
Original listing date10/26/23
DOM (days on market – TODAY)46

Financing Assumptions 
 Down Payment (%)30%
 Down Payment Amount$96,000
 Financed Amount$224,000
 Interest Rate7.375%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,547
 Cash Outlay (Total Out of Pocket)$111,516

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Mortgage Acceleration
Applying annual Cash flow (EPP*)$560
Applying monthly Cash flow (EPP*)$47
Years to pay off mortgage 27
Interest paid over 30 years$329,558
Int. paid in 27 yrs, using EPP$285,574
Your int. savings$43,985
If you make an extra payment every year of $560 you will pay off your mortgage in 27 years, and save $43,985 on interest.
*extra principal payment

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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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