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TIME SENSITIVE: hot deal in St Louis MO with the hard work done

Posted by Powered by Simply Do It on April 30, 2024
0
Hello

Here's an opportunity to own a turn key rental in the hottest/fastest appreciating county in Missouri. 

THIS HOME LITERALLY CHECKS ALL SDI PROPERTY SUGGESTED RATINGS!
3Property 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$141FAVORABLE
 Average ROI (at year 5)  15%17.2%FAVORABLE
Another SDI investor was under contract and went through the whole home purchase process. But, needed to back out for financing reasons. So you can take over the contract with all the hard work taken care of!
The local property manager says the only thing necessary prior to listing for rent is a carpet cleaning. That's how turn key this home is!! 

The inspection came back extremely clean, and already negotiated with the seller. 
It was for minor deferred maintenance items. And the seller is doing almost everything possible! Check out how clean the inspection is!! 
A PDF of the inspection with the items the seller is fixing is available upon request
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Why WE LOVE this property:
✅ built in 2006

✅ Great rental and purchase comps

✅ over 1800 sqft
✅ A rated school district
✅ NEWER HVAC, flooring, and water heater
✅ in highly appreciating area
Contract Details:
  • $317k purchase price
  • Closing 5/28
  • Seller to do repairs highlighted in inspection report
  • Appraisal already came back at contract purchase price
  • All you need to do is finance the home, or pay with cash. 
  • Seller to give buyer a $300 credit at closing.
AProperty Specifications1
 Bedrooms4
 Bathrooms3
 Square Feet1817
 Year Built2006
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)18
Lot size (sq ft)8,712
BPurchase AssumptionsMy Offer
Offer used for analysis$317,000
Suggested offer (low) 
Suggested offer (high) 
Asking$317,000
Market Value (after improvements)$320,000
Estimated Improvements (lower)$500
Estimated Improvements (upper)$1,000
Estimated Closing Costs$3,170
Estimated Mortgage Costs$2,552
Other Fees At Closing (pts, . . . )$3,100
Total Cost (estimated)$326,572
Original listing date3/21/24
DOM (days on market – TODAY)40
Estimated Financial AssumptionsMonthlyYearly
D
Rent (upper)*
$2,425$2,450$29,400
Rent (lower)*$2,400$28,800
    
Property Taxes $285$3,420
Insurance $115$1,380
Repairs75$100$1,200
Property Management Monthly (%)7.5% 
Property Management Monthly ($)$182$2,183
Leasing Fee75%$75.8$909
HOA or Fixed Costs $31$372
Vacancy Rate 4.0% 
Total Fixed Expenses36%$878$10,541
 Total Expenses (Fixed + Mortgage)$2,392$28,706
1Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate1.6%3.3%5.2%7.4%
 Net Cash Flow$8,475$34,857$82,216$154,134
 Equity Increase$81,802$184,056$312,378$474,122
 Total Gain$90,277$218,913$394,594$628,256
      
 Average Cash Flow/Year$1,695$3,486$5,481$7,707
 Average Cash Flow/Month$141$290$457$642
 Average Gain/Year$18,055$21,891$26,306$31,413
 Average ROI86.2%209.1%377.0%600.2%
 Annual ROI17.2%20.9%25.1%30.0%
 Projected Property Value$389,329$473,678$576,302$701,159
3Property 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$141FAVORABLE
 Average ROI (at year 5)  15%17.2%FAVORABLE
Future saves/cashflow once you refi:
Future refi rate:6.00%$1,330/yr$183/mo 

 

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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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