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Turnkey Houston Find! [Code: 18707]

Posted by Powered by Simply Do It on November 15, 2022
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Why THIS deal??
  • ~$205/mo. cash flow once you can refi to 4.5%
  • $20K Instant equity if aggressive suggested offer is accepted
  • Little to no work needed to be done to get this lease-ready
  • 31 Days on the market.  Great negotiation tool
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After 15 Years (no mortgage)
Original purchase price $270,000
Total investment (out of pocket) $77,400
15 yrs Project house value $522,274
Value (appreciation) Gain $252,274
15 yrs cash-flow generated $3,168
Total Gain $255,441
ROI (15 yrs) 330.03%
ROI (annually) 22.00%
   
Free & Clear cash flow (yr.) $18,745
Free & Clear cash flow (m) $1,562

  • 4 bedroom, 2.5 bath Single Family Home 
  • Low HOA fees
  • Great location with quick access to major commuting routes
  • Aggressive suggested offer to provide $20K instant equity!
  • Area undergoing appreciation and increasing rents
  • B-rated schools
  • Attached 2-car garage
  • 3,202 square foot lot


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

  • Built: 2019
  • Size: 1,959 square foot home
  • Low Crime, Desirable Community, Good 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: Houston

Team: Jenny  – email directly at hou1@simplydoit.net

Code: 18707


Property Specifications 1
 Bedrooms 4
 Bathrooms 2.5
 Square Feet 1959
 Year Built 2019
 Garage Size 2
 Schools Rating (on scale of A-C) B

Purchase Assumptions My Offer
Offer used for analysis $270,000
Suggested offer (low) $270,000
Suggested offer (high) $290,000
Asking $290,000
Market Value (after improvements) $290,000
Improvements (lower) $3,000
Improvements (upper) $6,000
Closing Costs $2,700
Mortgage Costs $2,700
Other Fees At Closing $0
Total Cost  $279,900

Financing Assumptions  
 Down Payment (%) 25%
 Down Payment Amount $67,500
 Financed Amount $202,500
 Interest Rate  7/1 ARM 7.000%
 Mortgage Term (Years) 30
 Monthly Mortgage Payment $1,347
 Cash Outlay (Total Out of Pocket) $77,400

Financial Assumptions Monthly Yearly
Rent (upper) $2,075 $2,100 $25,200
Rent (lower) $2,050 $24,600
Property Tax Rate (Approx.) 2.2%  
Property Taxes   $465 $5,580
Insurance   $105 $1,260
Repairs   $50 $600
Variable-Cost PM   0.0%  
Property Management Fee $100 $1,200
Leasing Fee 80% $69.2 $830
HOA   $23 $275
Vacancy Rate   4.0%  
Total Fixed Expenses $891 $10,694
 Total Expenses (Fixed + Mortgage) $2,238 $26,861

Financial Analysis / Deal Attractiveness        
Years: 5 10 15 20
 Cap Rate -1.8% -0.8% 0.3% 1.4%
 Net Cash Flow -$6,906 -$6,117 $3,168 $21,831
 Equity Increase $74,713 $168,001 $284,886 $431,894
 Total Gain $67,807 $161,884 $288,054 $453,726
           
 Average Cash Flow/Year -$1,381 -$612 $211 $1,092
 Average Cash Flow/Month -$115 -$51 $18 $91
 Average Gain/Year $13,561 $16,188 $19,204 $22,686
 Average ROI 87.6% 209.2% 372.2% 586.2%
 Annual ROI 17.5% 20.9% 24.8% 29.3%
 Projected Property Value $352,829 $429,271 $522,274 $635,426

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B B FAVORABLE
 Square Feet     1000 1,959 FAVORABLE
 Bedrooms     3 4 FAVORABLE
 Bathrooms     2 2.5 FAVORABLE
 Year Built     1970 2019 FAVORABLE
 Rent/Price (%)     0.75% 0.78% FAVORABLE
 Average Cash Flow (at year 5)     $125 -$115 INSUFFICIENT
 Average ROI (at year 5)     15% 17.5% 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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