4-plex with ALL THE FLEX!!! Updated info inside [Code: 3104]
- ~$1,690/mo. cash flow once you can refi to 5.0%
- Cash flows at ~$1,168/mo. at today's rates of 6.375%
- 20 Days on the Market already and sellers are now willing to negotiate!
- Fully remodeled and absolutely flawless on the inside
- $25K in instant equity if suggested offer is accepted
| After 15 Years (no mortgage) | |||
| Original purchase price | $800,000 | ||
| Total investment (out of pocket) | $222,350 | ||
| 15 yrs Project house value | $1,485,778 | ||
| Value (appreciation) Gain | $685,778 | ||
| 15 yrs cash-flow generated | $305,429 | ||
| Total Gain | $991,208 | ||
| ROI (15 yrs) | 445.79% | ||
| ROI (annually) | 29.72% | ||
| Free & Clear cash flow (yr.) | $74,713 | ||
| Free & Clear cash flow (m) | $6,226 | ||
- Fourplex with (two) 3 bedroom, 1 bath units and (two) 4 bedroom, 1 bath units
- Rated one of the TOP 10 BEST neighborhoods to rent in St. Louis in 2022
- Days on the market: 20 as of 2/20/2023
- Very desirable location!
- The Front door opens to a giant open space park. Very rare for a more urban setting!
- Our local agent has spoken to the seller's agent and says we can get this place for $800K or below!
- No fire or flood zone
- 2 tenants will be moving soon and will give the new owner the opportunity to raise rents to market level
- Awaiting updated details on HVAC unit ages and roof replacement from seller's agent
- Estimates for owner paid utilities is around $350/mo for water/trash/sewer (pending verification)
- Fully remodeled in 2022 which means little to no maintenance for a new buyer. We still estimated $400/mo. in the spreadsheet for conservative long-term cash flow estimates
- New Plumbing and Electrical in 2022
- In-unit washer/dryers
- No HOA charges
- 4 space off-street parking pad
- Property manager says rents are at least $1,800/mo for long term tenants!
Why should you consider this house / what makes it a good investment?
- Built: 1922 (completely rehabbed in 2022)
- Size: 4,417 square foot building
- Desirable Community, Highly Appreciating Neighborhood, Potential short term rental
What's next?
Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.
Metro: St. Louis
Team: Nathan – email directly at stl1@simplydoit.net
Code: 3104
| Property Specifications | 4 | Per Door |
| Bedrooms – 4 FAMILY | 14 | 3/4 bed units |
| Bathrooms – 4 FAMILY | 4 | 1.0 |
| Square Feet | 4,417 | 1104 |
| Year Built | 1922 | |
| Garage Size | 0 | 4-space pad |
| Schools Rating (on scale of A-C) | C |
| Purchase Assumptions | My Offer | Per Door |
| Offer used for analysis | $800,000 | $200,000 |
| Suggested offer (low) | $800,000 | $200,000 |
| Suggested offer (high) | $825,000 | $206,250 |
| Asking | $825,000 | $206,250 |
| Market Value (after improvements) | $825,000 | |
| Improvements (lower) | $4,000 | $1,000 |
| Improvements (upper) | $8,000 | $2,000 |
| Closing Costs | $8,000 | |
| Mortgage Costs | $8,000 | $2,000 |
| Other Fees At Closing | $350 | $88 |
| Total Cost | $822,350 | $2,000 |
| Financing Assumptions | |||
| Down Payment (%) | 25% | ||
| Down Payment Amount | $200,000 | ||
| Financed Amount | $600,000 | ||
| Interest Rate (5/6 ARM) | 6.375% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | $3,743 | ||
| Cash Outlay (Total Out of Pocket) | $222,350 | ||
| Financial Assumptions | Monthly | Yearly | |
| Rent (upper) | $7,200 | $7,200 | $86,400 |
| Rent (lower) | $7,200 | $86,400 | |
| Property Tax Rate (Approx.) | 2.5% | ||
| Property Taxes | $400 | $4,800 | |
| Insurance | $300 | $2,000 | |
| Repairs | $400 | $4,800 | |
| Variable-Cost PM | 7.5% | ||
| Property Management Fee | $540 | $6,480 | |
| Leasing Fee | 75% | $225.0 | $2,700 |
| Utilities | $350 | $4,200 | |
| Vacancy Rate | 4.0% | ||
| Total Fixed Expenses | $2,481 | $29,777 | |
| Total Expenses (Fixed + Mortgage) | $6,225 | $74,695 | |
| Financial Analysis / Deal Attractiveness | |||||
| Years: | 5 | 10 | 15 | 20 | |
| Cap Rate | 6.3% | 7.7% | 9.2% | 10.7% | |
| Net Cash Flow | $70,076 | $170,822 | $305,429 | $477,422 | |
| Equity Increase | $217,887 | $489,150 | $827,661 | $1,251,163 | |
| Total Gain | $287,963 | $659,972 | $1,133,090 | $1,728,585 | |
| Average Cash Flow/Year | $14,015 | $17,082 | $20,362 | $23,871 | |
| Average Cash Flow/Month | $1,168 | $1,424 | $1,697 | $1,989 | |
| Average Gain/Year | $57,593 | $65,997 | $75,539 | $86,429 | |
| Average ROI | 129.5% | 296.8% | 509.6% | 777.4% | |
| Annual ROI | 25.9% | 29.7% | 34.0% | 38.9% | |
| Projected Property Value | $1,003,739 | $1,221,202 | $1,485,778 | $1,807,677 | |
| Property Ratings Suggestions | |||||
| Item | Suggested Criteria (Min.) | This Property | FAVORABLE / INSUFFICIENT |
||
| Schools | B | C | INSUFFICIENT | ||
| Square Feet | 1000 | 4,417 | FAVORABLE | ||
| Bedrooms | 3 | 14 | FAVORABLE | ||
| Bathrooms | 2 | 4 | FAVORABLE | ||
| Year Built | 1970 | 1922 | INSUFFICIENT | ||
| Rent/Price (%) | 0.75% | 0.90% | FAVORABLE | ||
| Average Cash Flow (at year 5) | $125 | $1,168 | FAVORABLE | ||
| Average ROI (at year 5) | 15% | 25.9% | FAVORABLE | ||
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.