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Who wants $15K INSTANT EQUITY?? [Code: 5844]

Posted by Powered by Simply Do It on October 30, 2023
0
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Why THIS deal??
  • ~$346/mo. cash flow once you can refi to 6.0% 
  • Cash flows at ~$117 at today's rates of 7.99%
  • Instant Equity of $15k
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  • Single family home with 4 bedrooms and 2.5 bathrooms
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area
  • Property has been on the market 120+ days
  • B rated schools
  • New hospital being built in 2024 only 1/2 mile away
  • Low HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage

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

  • Built: 2007
  • Size: 1,719 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: Birmingham

Team: Carter  – email directly at bir1@simplydoit.net

Code: 5844

Mortgage Acceleration
Applying your annual cash flow (EPP*)$1,409
Applying your monthly cash flow (EPP*)$117
Years to payoff mortgage 22
Interest paid over 30 years$278,102
Int. paid in 22 yrs, using EPP$189,936
Your int. savings$88,166
If you make an extra payment every year of $1,409 (annual cash flow) you will pay off your mortgage in 22 years, and save $88,166 on interest.
*extra principal payment

Property Specifications1
 Bedrooms4
 Bathrooms2.5
 Square Feet1719
 Year Built2017
 Garage Size2
 Schools Rating (on scale of A-C)B

Purchase AssumptionsMy Offer
Offer used for analysis$245,000
Suggested offer (low)$245,000
Suggested offer (high)$255,000
Asking$259,900
Market Value (after improvements)$260,000
Improvements (lower)$1,000
Improvements (upper)$3,000
Closing Costs$2,450
Mortgage Costs$1,715
Other Fees At Closing (pts, . . . )$1,715
Total Cost $252,880
Original listing date6/30/23

Financing Assumptions 
 Down Payment (%)30%
 Down Payment Amount$73,500
 Financed Amount$171,500
 Interest Rate 7.990%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,257
 Cash Outlay (Total Out of Pocket) $81,380

Financial AssumptionsMonthlyYearly
Rent (upper)$1,850$1,900$22,800
Rent (lower)$1,800$21,600
Property Tax Rate (Approx.)   
Property Taxes $186$2,227
Insurance $115$1,380
Repairs $50$600
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$83$1,000
Leasing Fee60%$46.3$555
HOA or Fixed Costs$13$260
Vacancy Rate 4.0% 
Total Fixed Expenses30%$564$6,762
 Total Expenses (Fixed + Mortgage)$1,821$21,849

Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate1.7%3.5%5.5%7.7%
 Net Cash Flow$7,046$28,641$67,250$125,744
 Equity Increase$64,800$145,947$248,110$377,525
 Total Gain$71,846$174,587$315,360$503,269
      
 Average Cash Flow/Year$1,409$2,864$4,483$6,287
 Average Cash Flow/Month$117$239$374$524
 Average Gain/Year$14,369$17,459$21,024$25,163
 Average ROI88.3%214.5%387.5%618.4%
 Annual ROI17.7%21.5%25.8%30.9%
 Projected Property Value$316,330$384,864$468,245$569,692

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools  BBFAVORABLE
 Square Feet  1,0001,719FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  22.5FAVORABLE
 Year Built  19702017FAVORABLE
 Rent/Price (%)  0.75%0.78%FAVORABLE
 Average Cash Flow (at year 5)  $125$117INSUFFICIENT
 Average ROI (at year 5)  15%17.7%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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