Take a good look at this really nice 3BR/2BA with 1474 sq ft, on about a 1/3rd of an acre with a great backyard and an extra building in the back, large enough for a shop, office, apartment, guest house, or just extra storage!! This is a great addition to this deal, for sure! This deal is in a quiet, middle class neighborhood with great people, great neighbors, and a sweet old lady that lives across the street 🙂
Here’s your numbers:
ARV: = $130K (This was completed with our 2 buyers agents CMA’s and our company COMPS. This neighborhood comes in at approx $88.00 ppsf, after finished rehab is completed.)
Rehab Needed: = Estimate came in at $24K (…if you wanna make this house sparkle…in and out! Including updated kitchen, new baths, carpet and flooring, new sheet rock, paint, fixtures & landscape.)
Gross Profit Margins: = $43K (Minus your soft costs = closing/holding/misc = approx $14K)
Net Profit To You: =$29,000.00 (Based on our accurate numbers. Could be a bit more, especially if you do a “flat rate” commission @ Closing, etc.)
Rental Numbers (For you Landlords): = Rental Value @ $950 mo.
Gross Rental Income: = $11,400 Insurance: ($1,200) Taxes: ($771) Maintenance: ($600) NOI: = $7,980 Cap Rate Comes In At: = 9.068% ($63K + $25K = $88K TOTAL acquisition /$7,980 NOI = 9.068 %)
Talk about a GREAT DEAL?? Don’t pass this one by!
Thanks very much for your continued business with us. We’ll keep the deals comin’!!!