Good morning
This house is GREAT!
- The Corner lot that sits next to a trail
- It's zoned to good schools, and close to tons of shopping and near the outlet mall.
- 4 beds, 2 bath, 2075 sq ft, 2 car garage, built in 1988
- Has a fenced back yard – nice bonus + a large back yard and a tool shed
- It is missing the white picket fence to make it truly an american dream home ☺
Our Suggested Buying Strategy
Asking is $300,000 BUT since it has been sitting on the market for 25+ days coupled with the fact that the seller is on of the iBuyers (like Zillow) creates a perfect opportunity timing for a strong quick offer.
Our recommended offer is $285,000
We believe that after this weekend the seller will drop the price (since it has been on the market for 25+ days) which will invite more offers and competition.
If possible, and to help support a $285k offer – make it a cash offer. Cash offer DOESN'T keep it all cash – it means buying cash and refinancing after closing.
What's next?
Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.
| Financial Analysis / Deal Attractiveness |
| Years: |
5 |
10 |
| Cap Rate |
4.9% |
5.8% |
| Net Cash Flow |
$20,553 |
$49,164 |
| Equity Increase |
$86,483 |
$190,995 |
| Total Gain |
$107,036 |
$240,160 |
| |
|
|
| Average Cash Flow/Year |
$4,111 |
$4,916 |
| Average Cash Flow/Month |
$343 |
$410 |
| Average Gain/Year |
$21,407 |
$24,016 |
| Average ROI |
126.3% |
283.4% |
| Annual ROI |
25.3% |
28.3% |
| Projected Property Value |
$360,129 |
$438,152 |
| Property Specifications |
1 |
| Bedrooms |
4 |
| Bathrooms |
2 |
| Square Feet |
2,076 |
| Year Built |
1988 |
| Garage Size |
2 |
| Schools Rating (on scale of 0-10) |
B |
|
|
|
|
| Suggested offer (options)
|
$285,000
|
| Market Value (after improvements) |
$296,000 |
| Improvements (lower) |
$3,000 |
| Improvements (upper) |
$6,000 |
| Closing Costs |
$4,500 |
| Mortgage Costs |
$4,500 |
| Financing Assumptions |
|
| Down Payment (%) |
25% |
| Down Payment Amount |
$71,250 |
| Financed Amount |
$213,750 |
| Interest Rate |
3.40% |
| Mortgage Term (Years) |
30 |
| Monthly Mortgage Payment |
$948 |
| Cash Outlay (Total Out of Pocket) |
$84,750 |
| Financial Assumptions |
Monthly |
Yearly |
| Rent (upper) |
$2,075 |
$2,150 |
$25,800 |
| Rent (lower) |
$2,000 |
$24,000 |
| Property Tax Rate (Approx.) |
2.29% |
$5,517 |
| Property Taxes |
$425 |
$5,100 |
| Insurance |
$110 |
$1,320 |
| Repairs |
$75 |
$940 |
| Variable-Cost PM |
0.0% |
|
| Property Management Fee |
$100 |
$1,200 |
| Leasing Fee |
80% |
$46.1 |
$553 |
| HOA |
$0 |
$640 |
| Vacancy Rate |
4.0% |
|
| Total Fixed Expenses |
$835 |
$10,021 |
| Total Expenses (Fixed + Mortgage) |
$1,783 |
$21,397 |
code 7702
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.
