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Value-Add Duplex in KC Metro! [Code: 509]

Posted by Powered by Simply Do It on March 25, 2024
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Why THIS deal??
  • ~$209/mo. cash flow once you can refi to 6.0% 
  • Cash flows at ~$24/mo. at today's rates of 7.125%
  • This is a GREAT value-add opportunity by finishing the basement and adding almost 1k square feet for each unit! 
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  • Full Duplex home with 6 bedrooms and 2 bathrooms (3 bedroom, 1 bath each)
  • Duplexes lower your risk exposure for vacancies
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area and strong rental market
  • Newly listed
  • Good schools!
  • If additional square footage is added, higher rents can be charged
  • No HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • 2 attached single car garages (one for each side)
  • #value-add

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

  • Built: 2006
  • Size: 1,914 square foot home
  • Low Crime, Desirable Community, B Rated 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: Kansas City

Team: Chris  – email directly at kc3@simplydoit.net

Code: 509

Property Specifications2Per Door
 Bedrooms63
 Bathrooms21.0
 Square Feet1914957
 Year Built2006 
 Garage Size21
 Schools Rating (scale 3-30, 30 is best)15 
Lot size (sq ft)               14,356 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$299,000$149,500
Suggested offer (low)$290,000$145,000
Suggested offer (high)$299,900$149,950
Asking$299,900$150,000
Market Value (after improvements)$300,000 
Estimated Improvements (lower)$6,000$3,000
Estimated Improvements (upper)$12,000$6,000
Estimated Closing Costs$2,990 
Estimated Mortgage Costs$2,407$1,203
Other Fees At Closing (pts, . . . )$2,0937%
Total Cost (estimated)$315,490$1,203
Original listing date2/12/2024 
DOM (days on market – TODAY)42 

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$89,700
 Financed Amount$209,300
 Interest Rate 7.125%
 Mortgage Term (Years)30
 Monthly Mortgage Payment62.2%$1,410
 Cash Outlay (Total Out of Pocket) $106,190

Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$2,268$2,400$28,800
Rent (actual)*$2,135$25,620
    
Property Taxes $285$3,420
Insurance $185$2,220
Repairs75$150$1,800
Property Management Monthly (%)7.2% 
Property Management Monthly ($)$162$1,946
Leasing Fee68%$63.8$765
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses41.0%$930$11,161
Total Expenses (Fixed + Mortgage)$2,340$28,082

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate0.3%1.8%3.5%5.4%
 Net Cash Flow$1,461$18,987$55,382$113,922
 Equity Increase$77,017$173,243 $445,860
 Total Gain$78,478$192,230$349,296$559,783
      
 Average Cash Flow/Year$292$1,899$3,692$5,696
 Average Cash Flow/Month$24$158$308$475
 Average Gain/Year$15,696$19,223$23,286$27,989
 Average ROI73.9%181.0%328.9%527.2%
 Annual ROI14.8%18.1%21.9%26.4%
 Projected Property Value$364,996$444,073$540,283$657,337

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1415FAVORABLE
 Square Feet  1,0001,914FAVORABLE
 Bedrooms  36FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19702006FAVORABLE
 Average Cash Flow (at year 5)  $125$24INSUFFICIENT
 Average ROI (at year 5)  15%14.8%INSUFFICIENT

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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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