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UPDATED Price drop by another $25K! [Code: 2608]

Posted by Powered by Simply Do It on July 20, 2022
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After 15 Years (no mortgage)  
Original purchase price $550,000
Total investment (out of pocket) $155,500
15 yrs Project house value $990,519
Value (appreciation) Gain $440,519
15 yrs cash-flow generated $208,842
Total Gain $649,361
ROI (15 yrs) 418%
ROI (annually) 28%
   
Free & Clear cash flow (yr.) $48,101
Free & Clear cash flow (m) $4,008
  • Large fully remodeled two story 4-plex (2 bedroom, 1.5 bath units)
  • Price recently dropped by $99K! (an additional $25k was reduced 7/19)
  • All units are occupied and management is in place
  • All units have been remodeled and updated.  Turnkey property with very little make-ready necessary
  • Buyer must agree to a 1031 exchange with no cost to the buyer
  • LVP floors and upgrades throughout 
  • Beautiful kitchen with new granite countertops, all new cabinets, tile backsplash, all new stainless steel appliances (Refrigerator, stove, dishwasher & OTR microwave)
  • ~ $820/mo. cash flow 
  • No HOA costs
  • A rated schools
  • Tenants pay their own utilities
  • 1 car attached garages for each unit with new garage doors and openers

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

  • Built: 1986
  • Size: 7176 square foot building
  • Low Crime, Desirable community, Turnkey property

            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: Elizabeth – email directly at kc1@simplydoit.net

            Code: 2608

            Property Specifications 4 Per Door
             Bedrooms 8 2
             Bathrooms 6 1.5
             Square Feet 7176 1794
             Year Built 1986  
             Garage Size 4 1
             Schools Rating (on scale of A-F) A  
            Purchase Assumptions My Offer Per Door
            Offer used for analysis $550,000 $137,500
            Suggested offer (low) $525,000 $131,250
            Suggested offer (high) $595,000 $148,750
            Asking $550,000 $137,500
            Market Value (after improvements) $550,000 $137,500
            Improvements (lower) $4,000 $1,000
            Improvements (upper) $10,000 $2,500
            Closing Costs $5,500  
            Mortgage Costs $5,500  
            Other Fees At Closing $0 $0
            Total Cost  $568,000 $1,375
            Financial Assumptions Monthly Yearly
            Rent (upper) $4,890 $5,180 $62,160
            Rent (lower) $4,600 $55,200
             Property Tax Rate (Approx.) 1.4%  
             Property Taxes $533 $6,400
             Insurance $350 $4,200
             Repairs $300 $3,600
            Variable-Cost PM 7.2%  
            Property Management Fee $350 $4,196
             Leasing Fee 68% $137.5 $1,650
             HOA $0 $0
             Vacancy Rate 4.0%  
             Total Fixed Expenses $1,852 $22,225
             Total Expenses (Fixed + Mortgage) $4,194 $50,331

            Financial Analysis / Deal Attractiveness        
            Years: 5 10 15 20
             Cap Rate 6.3% 7.6% 9.0% 10.4%
             Net Cash Flow $49,184 $118,112 $208,842 $323,641
             Equity Increase $150,259 $336,153 $566,374 $851,806
             Total Gain $199,443 $454,265 $775,216 $1,175,446
                       
             Average Cash Flow/Year $9,837 $11,811 $13,923 $16,182
             Average Cash Flow/Month $820 $984 $1,160 $1,349
             Average Gain/Year $39,889 $45,427 $51,681 $58,772
             Average ROI 128.3% 292.1% 498.5% 755.9%
             Annual ROI 25.7% 29.2% 33.2% 37.8%
             Projected Property Value $669,159 $814,134 $990,519 $1,205,118
            Property Ratings Suggestions
             Item      Suggested Criteria (Min.) This Property FAVORABLE /
            INSUFFICIENT
             Schools     B A FAVORABLE
             Square Feet   1000 7,176 FAVORABLE
             Bedrooms   3 8 FAVORABLE
             Bathrooms   2 6 FAVORABLE
             Year Built   1970 1986 FAVORABLE
             Rent/Price (%)   0.75% 0.94% FAVORABLE
             Average Cash Flow (at year 5) $125 $820 FAVORABLE
             Average ROI (at year 5) 15% 25.7% 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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