50/50 Profit Split JV - Saint Louis MO 17% Cap Rate
Investor · Saint Louis, MO · Member since 2014 · 13 posts · 5 votes
Hello,
I have a four unit 1 bd 3,876 sqft that I purchased recently finished the rehab. I have one tenant currently in place (he has been there for $25 years!) and should have the three remaining units filled soon. My numbers show a estimated Cap rate of 17%. The estimated appraised value is just a guess on my part, I can have 4-unit appraised as needed. I am looking for a Joint Venture Partner; the $35,000 buy-in is estimated to return around 17%.
| Property Name: | Harney | |
| - | ||
| Investment | $35,000 | |
| Estimated Appraised Value | $65,000 | |
| - | ||
| - | Yearly | Monthly |
| Rent | $19,200 | $1,600 |
| Operating Expenses | Yearly | Monthly |
| Insurance | $600 | $50 |
| Taxes | $600 | $50 |
| Sewer | $1,200 | $100 |
| Utilities | $600 | $50 |
| Capital Expenditures | $1,000 | $83 |
| Management (10%) | $1,920 | $160 |
| Vacancy (8%) | $1,536 | $128 |
| Total | $7,456 | $605 |
| - | ||
| Total Property Cash Flow | $11,944 | $995 |
| Return | 34.13% | |
| - | ||
| 50% Cash Flow | $5,972 | $498 |
| 50% Return | 17.06% | |
| - | ||
| Capital Expenditures are repairs such as roof, water heater, AC, Appliances |
I have one other property in inventory with similar numbers. I also can find similar deals if interested.
Thanks, Jason