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Total Rehab Opportunity in KC! [code: 4509]

Posted by Powered by Simply Do It on March 21, 2022
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**Picture is of a different home undergoing the same renovations used as an example of what to expect
  • 3 bedroom 3 bath single family residence with 4th room possible addition
  • Highly sought after neighborhood
  • No (low) crime area
  • Rehab being completed by professional builder
  • Waiting to confirm when rehab finish date is expected to be
  • Over $240/mo. cash flow 
  • 2 car attached garage
  • See full rehab scope below
  • Award winning A-rated schools
  • 9,047 square foot lot

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

  • Built: 1993 with total remodel in 2022
  • Size: 3,333  sq ft
  • Quiet residential street, Desirable community, A rated schools

Rehab Scope:

Repair siding and fence

Repaint exterior

Keep entry tile, new carpet in living, hall and bedrooms 2,3, and 4

LVP in living and hall

Paint kitchen cabinets, doors, ceilings

Remove mold drywall on 2 basement walls

Repair trim

Remove all wallpaper

All new interior paint

Stained trim, mantle, handrails will all remain stained

Kitchen white, new granite tops, new backsplash  

New smooth top electric range, overhead microwave, and dishwasher stainless 

New kitchen hardware

Sand and refinish kitchen floors

New tile in 3 bathrooms on floor

Tile around the master tub remains

New light fixtures

New carpet in the basement

**adding a fourth bedroom an option**

            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: Meredith – email directly at kc1@simplydoit.net

            Code: 4509


            Property Specifications 1
             Bedrooms 3
             Bathrooms 3
             Square Feet 3333
             Year Built 1993, Rehab 2022
             Garage Size 2
             Schools Rating (on scale of A-F) A

            Purchase Assumptions My Offer
            Offer used for analysis $324,900
            Suggested offer (low) $324,900
            Suggested offer (high) $324,900
            Asking $324,900
            Market Value (after improvements) $326,000
            Improvements (lower) $1,000
            Improvements (upper) $1,500
            Closing Costs $3,249
            Mortgage Costs $3,249
            Other Fees At Closing $0
            Total Cost  $332,648

            Financial Assumptions Monthly Yearly
            Rent (upper) $2,195 $2,295 $27,540
            Rent (lower) $2,095 $25,140
             Property Tax Rate (Approx.) 1.4%  
             Property Taxes $305 $3,660
             Insurance $100 $1,200
             Repairs $50 $600
            Variable-Cost PM 7.2%  
            Property Management Fee $157 $1,883
             Leasing Fee 68% $61.7 $741
             HOA $0 $0
             Vacancy Rate 4.0%  
             Total Fixed Expenses $755 $9,062
             Total Expenses (Fixed + Mortgage) $2,012 $24,140

            Financial Analysis / Deal Attractiveness        
            Years: 5 10 15 20
             Cap Rate 3.3% 4.3% 5.4% 6.6%
             Net Cash Flow $14,525 $38,408 $72,623 $118,246
             Equity Increase $91,674 $204,148 $342,171 $511,587
             Total Gain $106,199 $242,555 $414,793 $629,833
                       
             Average Cash Flow/Year $2,905 $3,841 $4,842 $5,912
             Average Cash Flow/Month $242 $320 $403 $493
             Average Gain/Year $21,240 $24,256 $27,653 $31,492
             Average ROI 119.4% 272.6% 466.2% 707.9%
             Annual ROI 23.9% 27.3% 31.1% 35.4%
             Projected Property Value $396,629 $482,560 $587,108 $714,306

            Property Ratings Suggestions
             Item      Suggested Criteria (Min.) This Property FAVORABLE /
            INSUFFICIENT
             Schools     B A FAVORABLE
             Square Feet   1000 3,333 FAVORABLE
             Bedrooms   3 3 FAVORABLE
             Bathrooms   2 3 FAVORABLE
             Year Built   1970 1993 FAVORABLE
             Rent/Price (%)   0.75% 0.71% INSUFFICIENT
             Average Cash Flow (at year 5) $125 $242 FAVORABLE
             Average ROI (at year 5) 15% 23.9% FAVORABLE

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            **Actual home prior to rehab work starting
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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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