Davenport, IA turnkey opportunity

[Mark Shaffar]

We have a Davenport Deal open below:

http://www.zillow.com/homedetails/423-S-Lincoln-Ave-Davenport-IA-52802/94742537_zpid/

Price: $68,000 (This is fixed-it will not go up. Includes Purchase, Renovation, and our Management Fee) 

After Repair Value: $85,000 (what we estimate it will appraise at)

Comps:

Click Here to View Listings

Rent: $950 ---- to $1000

Management Fee: $76 ---- $80 (8% if you would like us to manage it for you)

Taxes: $117

Insurance: $65 (estimate)

Vacancy: $50 (5%)

Reserve: $50 (5% we warranty the work so this should be $0 the first year)

Net: $592 --- $638

10.2% --- 11% Pure Cash on Cash Return Projected

20% Equity / 80% Financed, Loan Payment = $350

Net Net After Mortgage Payment = $242

ROI with 20% Equity = 21% --- 25% Projected

More Pics:

423slincolnavemorepics.zip

Renovation includes:

All the cosmetics

Carpet, Patin, lights, outlets

, new flooring in kitchen & bath

Bath renovation (vanity, toilet, epoxy

tub

)

Appliances

Adding Cabinets & Countertop

New Furnace

New Hot Water Heater

Paint Basement

Garage needs paint

Not Needed:

Windows (newer casement windows already installed)

Exterior siding in good shape

Roof is good

Soffits, Fascia are all wrapped already

The renovation will be under 60 days. Leasing will be under 30 days. 90 Days or less total from the date of purchase = tenant signed lease.