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This house checks ALL the boxes!! [Code: 56]

Posted by Powered by Simply Do It on March 28, 2024
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Why THIS deal??
  • ~$467/mo. cash flow once you can refi to 5.25% 
  • Cash flows at ~$237/mo. at today's rates of 6.875%
  • This house checks all the boxes! 
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  • Single family home with 4 bedrooms and 3 bathrooms
  • This house did not sell the first weekend of showings, so we are targeting it with a reduced offer price for added equity potential!!
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area with a  strong rental market
  • Great schools!
  • UPDATES HVAC 8/2022, HOT WATER HEATER 3/2023 & FLOORING 3/2024
  • Low HOA charges
  • Community pool and playground
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage
  • #cashflow  #appreciation  #equity

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

  • Built: 2006
  • Size: 1,817 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: St. Louis

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

Code: 56

Property Specifications1
 Bedrooms4
 Bathrooms3
 Square Feet1817
 Year Built2006
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)18
Lot size (sq ft)8,712

Purchase AssumptionsMy Offer
Offer used for analysis$314,000
Suggested offer (low)$310,000
Suggested offer (high)$314,000
Asking$320,000
Market Value (after improvements)$320,000
Estimated Improvements (lower)$5,000
Estimated Improvements (upper)$8,000
Estimated Closing Costs$3,140
Estimated Mortgage Costs$2,528
Other Fees At Closing (pts, . . . )$3,100
Total Cost (estimated)$329,268

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$94,200
 Financed Amount$219,800
 Interest Rate 6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,444
 Cash Outlay (Total Out of Pocket) $109,468

Estimated Financial Assumptions
 MonthlyYearly
Rent (upper)*$2,425$2,450$29,400
Rent (lower)*$2,400$28,800
    
Property Taxes $285$3,420
Insurance $115$1,380
Repairs75$75$900
Property Management Monthly (%)7.5% 
Property Management Monthly ($)$182$2,183
Leasing Fee75%$75.8$909
HOA or Fixed Costs$31$372
Vacancy Rate 4.0% 
Total Fixed Expenses35%$853$10,241
 Total Expenses (Fixed + Mortgage)$2,297$27,568

Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate2.6%4.2%6.1%8.1%
 Net Cash Flow$14,225$46,520$99,972$178,180
 Equity Increase$82,507$185,421$314,200$475,907
 Total Gain$96,732$231,941$414,172$654,086
      
 Average Cash Flow/Year$2,845$4,652$6,665$8,909
 Average Cash Flow/Month$237$388$555$742
 Average Gain/Year$19,346$23,194$27,611$32,704
 Average ROI88.4%211.9%378.4%597.5%
 Annual ROI17.7%21.2%25.2%29.9%
 Projected Property Value$389,329$473,678$576,302$701,159

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1418FAVORABLE
 Square Feet  1,0001,817FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  23FAVORABLE
 Year Built  19702006FAVORABLE
 Average Cash Flow (at year 5)  $125$237FAVORABLE
 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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