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Turn Key Rental in St. Louis with $400/mo cashflow using 7% int rate (Code 116)

Posted by Powered by Simply Do It on September 1, 2023
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Want a turnkey property in the highest appreciating county in Missouri for the past 10 years? Here's your chance! 
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Why I love this property:
✅ newer home with updated electrical/plumbing

✅ small subdivision with a community pool

✅ added marketability with community pool
✅ lots of updates that are durable: appliances, cabinets, counter tops, floors, etc.
✅ good school district
✅ highest appreciating county in all of Missouri for 10 years
✅ easy access to freeway 
Please direct any questions to SDI (meet@simplydoit.net) or Nathan at stl1@simplydoit.net
 
AProperty Specifications1
 Bedrooms3
 Bathrooms2
 Square Feet1300
 Year Built1985
 Garage Size2
 Schools Rating (on scale of A-C)A-
BPurchase AssumptionsMy Offer
Offer used for analysis$275,000
Suggested offer (low)$275,000
Suggested offer (high)$280,000
Asking$290,000
Market Value (after improvements)$300,000
Improvements (lower)$5,000
Improvements (upper)$8,000
Closing Costs$2,750
Mortgage Costs$2,750
Other Fees At Closing (pts, . . . )$3,300
Total Cost $290,300
Original listing date7/31/23
DOM (days on market – TODAY)32

DFinancial AssumptionsMonthlyYearly
Rent (upper)$2,175$2,250$27,000
Rent (lower)$2,100$25,200
Property Tax Rate (Approx.)   
Property Taxes $20$240
Insurance $115$1,380
Repairs $100$1,200
Property Management Monthly (%)7.0% 
Property Management Monthly ($)$152$1,827
Leasing Fee75%$68.0$816
HOA or Fixed Costs$33$396
Vacancy Rate 4.0% 
Total Fixed Expenses26%$569$6,830
 Total Expenses (Fixed + Mortgage)$1,850$22,198
1Financial Analysis / Deal Attractiveness 
Years:510
 Cap Rate5.3%7.1%
 Net Cash Flow$25,891$69,302
 Equity Increase$76,293$171,385
 Total Gain$102,183$240,687
   
 Average Cash Flow/Year$5,178$6,930
 Average Cash Flow/Month$432$578
 Average Gain/Year$20,437$24,069
 Average ROI104.5%246.1%
 Annual ROI20.9%24.6%
 Projected Property Value$364,996$444,073
3Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools  BA-FAVORABLE
 Square Feet  1,0001,300FAVORABLE
 Bedrooms  33FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19701985FAVORABLE
 Rent/Price (%)  0.75%0.73%INSUFFICIENT
 Average Cash Flow (at year 5)  $125$161FAVORABLE
 Average ROI (at year 5)  15%16.8%FAVORABLE
What's happening in STL?
  • 3.6% Median home price increased from June 2022
  • 1.5 month supply of inventory (has not changed much since 2020)
  • 23 Days on market average (Same as 2022 average)
  • 14% decrease in new listings from last year
Projections (not guarantees) – provided by a 3rd party
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MSA 1yr risk of decline – provided by a 3rd party
The one year risk of decline is a proprietary metric that measures the probability that this market's median home prices will be lower 12 months from now than the current market median price. This one-year chance of loss is derived through multivariate time series models using a combination of fundamental and technical indicators.
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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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