MASSIVE Price Drop! Great Equity Buy!! [Code: 168]

SDI logo.jpg
Why THIS deal??
  • ~$328/mo. cash flow once you can refi to 5.25% 
  • Cash flows at ~$87/mo. at today's rates of 6.99%
  • MASSIVE PRICE DROP OF $20k.  This hasn't been advertised yet, so get in before everyone else finds out about it!
  • Great opportunity for an equity buy! 
image.png
  • Single family home with 4 bedrooms and 2.5 bathrooms
  • There's a smaller property on the same street on the market for $329K.
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area and strong rental market
  • Property has been on the market 250+ days.  Great Negotiation Tool! 
  • Great schools!
  • Fully fenced backyard
  • Motivated Sellers
  • Low HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage
  • #equity

Why should you consider this house / what makes it a good investment?

  • Built: 2017
  • Size: 2,342 square foot home
  • 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: Birmingham

Team: Joel  – email directly at bir2@simplydoit.net

Code: 168

Property Specifications 1
 Bedrooms 4
 Bathrooms 2.5
 Square Feet 2342
 Year Built 2017
 Garage Size 2
 Schools Rating (scale 3-30, 30 is best) 25
Lot size (sq ft) 5663

Purchase Assumptions My Offer
Offer used for analysis $306,000
Suggested offer (low) $306,000
Suggested offer (high) $306,000
Asking $306,000
Market Value (after improvements) $306,000
Estimated Improvements (lower) $6,500
Estimated Improvements (upper) $8,500
Estimated Closing Costs $3,060
Estimated Mortgage Costs $2,463
Other Fees At Closing (pts, . . . ) $2,142
Total Cost (estimated) $321,165
Original listing date 6/23/2023
DOM (days on market – TODAY) 256

Financing Assumptions  
 Down Payment (%) 30%
 Down Payment Amount $91,800
 Financed Amount $214,200
 Interest Rate 6.990%
 Mortgage Term (Years) 30
 Monthly Mortgage Payment $1,424
 Cash Outlay (Total Out of Pocket) $106,965

Estimated Financial Assumptions
  Monthly Yearly
Rent (upper)* $2,150 $2,200 $26,400
Rent (lower)* $2,100 $25,200
 
Property Taxes $167 $2,004
Insurance $150 $1,800
Repairs 75 $75 $900
Property Management Monthly (%) 8.0%
Property Management Monthly ($) $172 $2,064
Leasing Fee 60% $53.8 $645
HOA or Fixed Costs $40 $480
Vacancy Rate 4.0%
Total Fixed Expenses 34% $737 $8,842
 Total Expenses (Fixed + Mortgage) $2,161 $25,926

Financial Analysis / Deal Attractiveness        
Years: 5 10 15 20
 Cap Rate 1.0% 2.5% 4.2% 6.0%
 Net Cash Flow $5,224 $26,560 $66,747 $128,981
 Equity Increase $78,887 $177,388 $300,802 $456,016
 Total Gain $84,112 $203,948 $367,549 $584,997
 Average Cash Flow/Year $1,045 $2,656 $4,450 $6,449
 Average Cash Flow/Month $87 $221 $371 $537
 Average Gain/Year $16,822 $20,395 $24,503 $29,250
 Average ROI 78.6% 190.7% 343.6% 546.9%
 Annual ROI 15.7% 19.1% 22.9% 27.3%
 Projected Property Value $372,296 $452,955 $551,089 $670,484

Property Ratings Suggestions
 Item  Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 14 25 FAVORABLE
 Square Feet 1,000 2,342 FAVORABLE
 Bedrooms 3 4 FAVORABLE
 Bathrooms 2 2.5 FAVORABLE
 Year Built 1970 2017 FAVORABLE
 Average Cash Flow (at year 5) $125 $87 INSUFFICIENT
 Average ROI (at year 5) 15% 15.7% FAVORABLE

image.png
image.png
image.png
image.png

SDI logo.jpg

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.Â