Aggressive offer on Kansas City Find [Code: 903]
- Price already dropped by $10K total over 15 days on the market. Good sign that seller is willing to negotiate
- ~$225/mo cash flow
- Suggested offer is aggressive. Be prepared for counter offer up to $355K
- Very little work needed to make this lease-ready
- Highest and Best Offers Due Saturday 9/24/22 by 5pm (CST)
| After 15 Years (no mortgage) | |||
| Original purchase price | $345,000 | ||
| Total investment (out of pocket) | $97,375 | ||
| 15 yrs Project house value | $648,340 | ||
| Value (appreciation) Gain | $303,340 | ||
| 15 yrs cash-flow generated | $75,221 | ||
| Total Gain | $378,561 | ||
| ROI (15 yrs) | 388.8% | ||
| ROI (annually) | 25.9% | ||
| Free & Clear cash flow (yr.) | $26,761 | ||
| Free & Clear cash flow (m) | $2,230 | ||
- 4 bedroom, 3 bath Single Family Home
- Large fenced backyard. Perfect for families and pets
- LVP flooring & carpet throughout
- Suggested offer is very aggressive for this area, be prepared for counter offer up to $355K
- 5th non-conforming room to be used as home office or gym
- Good school district
- No HOA fees
- Highly appreciating neighborhood
- Attached 2-car garage
- Price has been dropped already by $10K and has been on the market for 15 days
- 7,957 square foot lot
Why should you consider this house / what makes it a good investment?
- Built: 2013
- Size: 2,453 square foot
- Low Crime, desirable community, A 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: Elizabeth/Meredith – email directly at kc1@simplydoit.net
Code: 903
| Property Specifications | 1 |
| Bedrooms | 4 |
| Bathrooms | 3 |
| Square Feet | 2453 |
| Year Built | 2013 |
| Garage Size | 2 |
| Schools Rating (on scale of A-C) | A |
| Purchase Assumptions | My Offer |
| Offer used for analysis | $345,000 |
| Suggested offer (low) | $345,000 |
| Suggested offer (high) | $360,000 |
| Asking | $355,000 |
| Market Value (after improvements) | $360,000 |
| Improvements (lower) | $2,000 |
| Improvements (upper) | $3,000 |
| Closing Costs | $3,450 |
| Mortgage Costs | $3,450 |
| Other Fees At Closing | $1,725 |
| Total Cost | $356,125 |
| Financial Assumptions | Monthly | Yearly | |
| Rent (upper) | $2,595 | $2,695 | $32,340 |
| Rent (lower) | $2,495 | $29,940 | |
| Property Tax Rate (Approx.) | 2.5% | ||
| Property Taxes | $375 | $4,500 | |
| Insurance | $110 | $1,320 | |
| Repairs | $65 | $780 | |
| Variable-Cost PM | 7.2% | ||
| Property Management Fee | $186 | $2,227 | |
| Leasing Fee | 68% | $73.0 | $876 |
| HOA | $0 | $0 | |
| Vacancy Rate | 4.0% | ||
| Total Fixed Expenses | $905 | $10,859 | |
| Total Expenses (Fixed + Mortgage) | $2,436 | $29,226 | |
| Property Ratings Suggestions | |||||
| Item | Suggested Criteria (Min.) | This Property | FAVORABLE / INSUFFICIENT | ||
| Schools | B | A | FAVORABLE | ||
| Square Feet | 1,000 | 2,453 | FAVORABLE | ||
| Bedrooms | 3 | 4 | FAVORABLE | ||
| Bathrooms | 2 | 3 | FAVORABLE | ||
| Year Built | 1970 | 2013 | FAVORABLE | ||
| Rent/Price (%) | 0.75% | 0.78% | FAVORABLE | ||
| Average Cash Flow (at year 5) | $125 | $228 | FAVORABLE | ||
| Average ROI (at year 5) | 15% | 22.6% | 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.