It’s a TWOFER! Check out this double deal!! [Code: 801 & 802]

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Note: seller wants either one buyer for both or for them to close at the same time. You can buy both or only one.

General about the area
  • Good school district (rated C)
  • 10 mins from many city amenities/plaza
  • It's in an appreciating area.
  • Working class / blue color tenants
  • Some in this area are sending kids to private schools
  • Trendy area, quick jump on the highway and you are pretty much everywhere in the metro area!

802
  • 4-plex
  • 2 bed / 1 bath units, 1965 built
  • Fully Rented
  • All kitchen appliances
  • Parking: Behind building
  • Owner provides Refrigerator, dishwasher & Range
  • Common area electrical paid by owner
  • Owner pays for water and trash
  • Tenant pays for electrical and gas
  • Tenant pays $55 per month for water. (only 1 water meter for property)
  • Washer/Dryer Hookups located in basement
  • No Pets allowed
  • No smoking allowed
  • Managed by a Property Manager
  • Units have their own HVAC, gas meter, and electric meter
  • Each unit has own storage unit in basement
Property Specifications4Per Door
 Bedrooms82
 Bathrooms41.0
 Square Feet44001100
 Year Built1965 
 Garage Size2 
 Schools Rating (on scale of A-C)C 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$445,000$111,250
Suggested offer (low)$445,000$111,250
Suggested offer (high)$445,000$111,250
Asking$445,000$111,250
Market Value (after improvements)$460,000 
Improvements (lower)$18,000$4,500
Improvements (upper)$26,000$6,500
Closing Costs$4,450 
Mortgage Costs$4,450$1,113
Other Fees At Closing$3,800$950
Total Cost $479,700$1,113
Financing Assumptions 
 Down Payment (%)25%
 Down Payment Amount$111,250
 Financed Amount$333,750
 Interest Rate (5/6 ARM)6.375%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$2,082
 Cash Outlay (Total Out of Pocket)$145,950

Financial AssumptionsMonthlyYearly
Rent (upper)$3,892$4,392$52,704
Rent (lower)$3,392$40,704
Property Tax Rate (Approx.)1.4% 
Property Taxes $410$4,920
Insurance $175$2,100
Repairs $280$3,360
Variable-Cost PM 7.0% 
Property Management Fee$272$3,269
Leasing Fee68%$109.5$1,314
Utilities $125$1,500
Vacancy Rate 4.0% 
Total Fixed Expenses$1,517$18,200
 Total Expenses (Fixed + Mortgage)$3,599$43,186

Financial Analysis / Deal Attractiveness
Years:510
 Cap Rate3.2%4.3%
 Net Cash Flow$23,405$62,249
 Equity Increase$121,437$272,616
 Total Gain$144,842$334,864
   
 Average Cash Flow/Year$4,681$6,225
 Average Cash Flow/Month$390$519
 Average Gain/Year$28,968$33,486
 Average ROI99.2%229.4%
 Annual ROI19.8%22.9%
 Projected Property Value$559,660$680,912


801
  • 4-plex
  • 2 bed / 2 bath units , 1965 built, total sq ft 4,494
  • Fully Rented
  • All kitchen appliances
  • Parking: Behind building

  • All units have been renovated
  • All units come with refrigerator, dishwasher, and range
  • 2 leases have been signed recently
  • Each unit has separate gas and electric meters
  • Community Laundry room in basement
  • Each unit comes with a storage unit in basement
  • All units mirror each other.
  • All bathrooms are in similar condition
Property Specifications4Per Door
 Bedrooms82
 Bathrooms82.0
 Square Feet44001100
 Year Built1965 
 Garage Size2 
 Schools Rating (on scale of A-C)C 

Purchase AssumptionsMy OfferPer Door
Offer used for analysis$550,000$137,500
Suggested offer (low)$550,000$137,500
Suggested offer (high)$550,000$137,500
Asking$550,000$137,500
Market Value (after improvements)$570,000 
Improvements (lower)$18,000$4,500
Improvements (upper)$26,000$6,500
Closing Costs$5,500 
Mortgage Costs$5,500$1,375
Other Fees At Closing$3,800$950
Total Cost $586,800$1,375
Financing Assumptions 
 Down Payment (%)25%
 Down Payment Amount$137,500
 Financed Amount$412,500
 Interest Rate (5/6 ARM)6.375%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$2,573
 Cash Outlay (Total Out of Pocket)$174,300

Financial AssumptionsMonthlyYearly
Rent (upper)$4,300$4,800$57,600
Rent (lower)$3,800$45,600
Property Tax Rate (Approx.)1.4% 
Property Taxes $410$4,920
Insurance $185$2,220
Repairs $280$3,360
Variable-Cost PM 7.0% 
Property Management Fee$301$3,612
Leasing Fee68%$120.9$1,451
Utilities $125$1,500
Vacancy Rate 4.0% 
Total Fixed Expenses$1,582$18,983
 Total Expenses (Fixed + Mortgage)$4,155$49,864


Financial Analysis / Deal Attractiveness
Years:510
 Cap Rate1.8%2.8%
 Net Cash Flow$15,334$48,334
 Equity Increase$150,407$337,641
 Total Gain$165,740$385,975
   
 Average Cash Flow/Year$3,067$4,833
 Average Cash Flow/Month$256$403
 Average Gain/Year$33,148$38,597
 Average ROI95.1%221.4%
 Annual ROI19.0%22.1%
 Projected Property Value$693,492$843,739


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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.