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You Don’t Want To Miss This Great Opportunity!! [Code: 281]

Posted by Powered by Simply Do It on June 29, 2023
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Why THIS deal??
  • ~$475/mo. cash flow once you can refi to 5.0% 
  • Cash flows at ~$263 at today's rates of 6.75%
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Mortgage Acceleration
Applying your ann. cashflow (EPP*)$3,155
Applying your mo. cashflow (EPP*)$263
Years to payoff mortgage 18
Interest paid over 30 years$249,745
Int. paid in 18 yrs, using EPP$139,776
Your int. savings$109,969
If you make an extra payment every year of $3,155 you will payoff your mortgage in 18 years, and save $109,969 on interest.
  • 4 bedroom, 2 bath Single Family Home 
  • We are awaiting interior pictures
  • Improvement cost are just estimates due to lack of interior pictures
  • Highly rated schools
  • No HOA charges
  • New LVP flooring and Granit countertops
  • There are TWO bedrooms downstairs with a full bathroom.
  • The water heater is 3 years old and the HVAC was completely replaced in 2015
  • Attached 2-car garage
  • 0.50 acre wooded back yard


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

  • Built: 1979
  • Size: 2,279 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: Birmingham

Team: Carter– email directly at birm1@simplydoit.net

Code: 281

Property Specifications1
 Bedrooms4
 Bathrooms2
 Square Feet2279
 Year Built1979
 Garage Size2
 Schools Rating (on scale of A-C)A-

Purchase AssumptionsMy Offer
Offer used for analysis$269,900
Suggested offer (low)$260,000
Suggested offer (high)$269,900
Asking$269,900
Market Value (after improvements)$269,900
Improvements (lower)$3,000
Improvements (upper)$5,000
Closing Costs$2,699
Mortgage Costs$2,699
Other Fees At Closing (pts, . . . )$2,699
Total Cost $281,997
Original listing date6/29/23
DOM (days on market – TODAY)0

Financing Assumptions 
 Down Payment (%)30%
 Down Payment Amount$80,970
 Financed Amount$188,930
 Interest Rate 6.750%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,225
 Cash Outlay (Total Out of Pocket) $93,067

Financial AssumptionsMonthlyYearly
Rent (upper)$1,950$2,050$24,600
Rent (lower)$1,850$22,200
Property Tax Rate (Approx.)   
Property Taxes $150$1,798
Insurance $100$1,200
Repairs $100$1,200
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$83$1,000
Leasing Fee60%$48.8$585
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses29%$556$6,675
 Total Expenses (Fixed + Mortgage)$1,782$21,380

Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate3.4%5.1%6.9%9.0%
 Net Cash Flow$15,773$47,143$96,737$167,614
 Equity Increase$70,045$157,389$266,629$403,696
 Total Gain$85,819$204,533$363,365$571,311
      
 Average Cash Flow/Year$3,155$4,714$6,449$8,381
 Average Cash Flow/Month$263$393$537$698
 Average Gain/Year$17,164$20,453$24,224$28,566
 Average ROI92.2%219.8%390.4%613.9%
 Annual ROI18.4%22.0%26.0%30.7%
 Projected Property Value$328,375$399,518$486,075$591,384

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools  BA-FAVORABLE
 Square Feet  1,0002,279FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19701979FAVORABLE
 Rent/Price (%)  0.75%0.76%FAVORABLE
 Average Cash Flow (at year 5)  $125$263FAVORABLE
 Average ROI (at year 5)  15%18.4%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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