Don’t Open If You Need Cash Flow…Equity ($100k) Buy Opportunity! [Code: 2041]
Summary / What We Like About This One:
- This is an equity buy where you will have over $100k of equity on day-1
- This home is a SHORT SALE: A short-sale is when a homeowner sells their property for less than what they owe on their mortgage. The lender agrees to accept the lower amount, and the homeowner avoids foreclosure. This offer will still require lender short-sale approval and for that reason closing can take more than 90 days.
- This property could integrate well to an existing portfolio that produces a positive cashflow as an equity-focus property.
Highlights
- 📍 Close to the downtown Nashville area!!
- 🏠 Square footage could be 2,630 vs. 2,429 that was used on the property analysis
- 💰 Location allows for higher rents than we typically are able to get in this metro
- 💰 Potential rents could be higher than what are estimated
- 📞 Cash flows at $61/mo at year 5
- 🏫 The original listing price was $592k
- 💰 Other houses in the area are selling at $218-$236/sq ft. @$455K this one is selling for less than $190/sq ft
- There are 2 other SDI-owned houses in the area and many more in the greater area.
Key Insights
- 🎯 Location Matters: We have not been able to buy in this area due to the market increases in several years.
- 📈 Equity Potential: $100K in equity on the close of this home!!
- 🏡 Comparative Advantage: Other homes in this neighborhood are around $600k
- 📅 Market Timing: Buy now and rent for prime rental rates in the spring
- 📜 Rental Restrictions: Need to verify that HOA has no rental restrictions
- 📞 Support Network: Use our locally vetted teams to streamline your purchase
What's next?
Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.
Team: Simply Do It – dani@simplydoit.net
Code: 2041
| Property Specifications | 1 |
| Bedrooms | 3 |
| Bathrooms | 2.5 |
| Square Feet | 2429 |
| Year Built | 2022 |
| Garage Size | 2 |
| Schools Rating (scale 3-30, 30 is best) | 8 |
| Lot size (sq ft) | 11,326 |
| Purchase Assumptions | My Offer |
| Offer used for analysis | $455,000 |
| Suggested offer (low) | $455,000 |
| Suggested offer (high) | $490,000 |
| Asking | $565,000 |
| Market Value (after improvements) | $560,000 |
| Day-1 Equity | $105,000 |
| Estimated Improvements (lower) | $3,500 |
| Estimated Improvements (upper) | $5,500 |
| Estimated Closing Costs | $4,550 |
| Estimated Mortgage Costs | $2,730 |
| Other Fees At Closing (pts, . . . ) | $2,730 |
| Total Cost (estimated) | $469,510 |
| Financing Assumptions | |||
| Down Payment (%) | 40% | ||
| Down Payment Amount | $182,000 | ||
| Financed Amount | $273,000 | ||
| Interest Rate | 6.750% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | 69.4% | $1,771 | |
| Cash Outlay (Total Out of Pocket) | $196,510 | ||
| Estimated Financial Assumptions | Monthly | Yearly | |
| Rent (upper)* | $2,550 | $2,600 | $31,200 |
| Rent (lower)* | $2,500 | $30,000 | |
| * Can fluctuate depending on time of year property is being rented. | |||
| Property Taxes | $200 | $2,400 | |
| Insurance | $150 | $1,800 | |
| Repairs | 75 | $55 | $660 |
| Property Management Monthly (%) | 8.0% | ||
| Property Management Monthly ($) | $204 | $2,448 | |
| Leasing Fee | 50% | $53.1 | $638 |
| HOA or Fixed Costs | $80 | $960 | |
| Vacancy Rate | 4.0% | ||
| Total Fixed Expenses | 32.8% | $836 | $10,032 |
| Total Expenses (Fixed + Mortgage) | $2,607 | $31,280 | |
| Property Ratings Suggestions | |||||
| Item | Suggested Criteria (Min.) | This Property | FAVORABLE / INSUFFICIENT |
||
| Schools (scale of 3-30, 30 is the best) | 14 | 8 | INSUFFICIENT | ||
| Square Feet | 1,000 | 2,429 | FAVORABLE | ||
| Bedrooms | 3 | 3 | FAVORABLE | ||
| Bathrooms | 2 | 2.5 | FAVORABLE | ||
| Year Built | 1970 | 2022 | FAVORABLE | ||
| Average Cash Flow (at year 5) | $125 | $61 | INSUFFICIENT | ||
| Average ROI (at year 5) | 15% | 17.8% | 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.
3/4/2025 8:50