Midwest *Ground-Up* Turnkey #10

[Marie McLean]

NOTE: *Ground-Up* Turnkeys ~ Cash buyers only

• under contract, inspected, iron-clad rehab costed out
• buyer takes title directly for stated turnkey price
• save: only one set of closing costs
• our Scope of Work doubles as a contract
• we will tenant and manage, unless buyer prefers another arrangement

• no garage, frame and brick build, built 1948 
• Closing date: TBD after bank approval - *SHORT SALE*
• Price: $42,000
  Rehab: $25,270
  Carrying Costs: $1,000
  Closing Costs: $2,000
  Total Turnkey Price: $70,270
  ARV: $80,800

Outdoor Video

Indoor Video

Scope of Work

Tenant Criteria and In-house Property Management

Rental Projections

• Monthly Rent: $1,000
• Taxes: $219
• Management: $80
• Vacancy: $50
• Insurance: $73
• Reserve: $50
• Net: $528
• Monthly x 12: $6,341
• Strictly Cash on Cash ROI: 9.43%

Financed/Refinanced 80%

• Down Payment: $16,817.50
• Mortgage Interest Rate: 5%
• Mortgage Amortization: 25
• Mortgage Monthly Payment: $294.94
• Net Cash Flow Less Mortgage: $233.44
• Net Net x 12: $2,801
• Financed Cash on Cash ROI: 16.66%

COMPS

4937 W Medford Ave ~ Sold 10/15 $78,000. ($53.90/sqft)

• 4BR/2BA, 1447 sqft
• detached garage, brick and stone, built 1937
• retail upgrades throughout
• .5 miles away

3515 N 57th Street ~ Sold 10/15 $85,000. ($53.46/sqft)

• 3BR/1BA, 1590 sqft
• detached garage, brick and frame, built 1948
• rental upgrades throughout except for bathroom dated
• .3 miles away

3425 N 56th Street ~ Sold 6/15 $83,900. ($59.84/sqft)

• 3BR/1.5BA, 1402 sqft
• detached garage, frame, built 1939
• rental grade updates throughout
• .4 miles away

Comps on a Map