Updated over 9 years ago on . Most recent reply
Near Turnkey Two Unit Property!!
Incredible opportunity to own a near turnkey 2 unit in Ramblewood Community. CoC 22%: Cap Rate 13%. Very nice neighborhood and rents are strong. Less than $10k needed to be rent ready and $25k est. for full rehab for retail value of $170k. Not much work here. Each unit is 2/1, nice front and rear yard, kitchen, avg. rents $1300. Asking $75k obo. Please provide POF to receive lockbox and $3500 EMD at time of contract. This is a cash ONLY transaction. Discount if can close within 7 days. Please contact me at: [email protected] or 443.691.6619 for additional photos and property summary.
| PURCHASE/REHAB ASSUMPTIONS | 61% of ARV | |
|---|---|---|
| After-Repair Value (ARV) | 170,000.00 | |
| Purchase Price | 75,000.00 | 43% |
| Rehab Costs | 25,000.00 | 14% |
| Total Holding and Closing Costs (not inc. Refi) | 4,000.00 | 2% |
| Total Financing Costs | - | 0% |
| Total Project Cost Basis | 104,000.00 | 61% |
| Total Amount Financed | - | |
| Total Cash Commited | 104,000.00 |
| PROJECTED RESULTS | |
|---|---|
| Projected Monthly Rent (net of vacancy) | 2,280.00 |
| Projected Monthly Expenses | 368.00 |
| Projected Monthly Net Operating Income | 1,912.00 |
| Cap Rate Based on Cost Basis | 22.1% |
| Cap Rate Based on ARV | 13.5% |
| Assumed Time to Complete Rehab: | 1 Month |
| Assumed Time to Complete Refi | 2 Months |
| Total Time between Acquisition and Refi: | 3 Months |
Offering