Updated about 8 years ago on . Most recent reply
2 SFRs; 60% NET ROI (annualized); Market Rent $900 and $600; $44K
Property Description: 2 houses and 1 mobile home on 2.4 acres of flat land located in the Graysville/East Brainerd area. Property not in flood zone per FEMA maps. Property is on the border of the TN/GA state line and less than 5 miles from Hamilton Place. Larger house on 2551 Graysville is 1364 sq ft with 2 bed and 1 bath (house picture above and layout below). Smaller neighboring house on 2491 Graysville is 1025 sq ft with 1 bed and 1 bath. Properties were rented in 2016 but are now currently vacant. Market rent is $900/mo for larger property. Market rent is $600/mo for smaller property.
Estimated Cost for Repair and Rehab: $41k
Profitability Analysis for BRRR: Total Cash in Deal is ~$90k. After refinance we cash out $90k minus expense is -$750 with 25% equity. Property will be held as a rental and will cash flow $125/mo with PM or $206/mo without PM (self-managed). Market rental rate is $900 per month.
Profitability Analysis for Fix & Flip: Total Cash in Deal is ~$85k. ARV is ~$120k. After sale, remainder is $26k after expenses. 30% NET ROI in 6 months (60% NET ROI Annualized).
Link to Prospectus with Photos:
https://drive.google.com/open?id=0ByFiKtHqSvAYVVJr...
We are selling our assignable purchase contract.
For more info Contact Oscar Zendejas at (423)243-2845 or [email protected]
Thanks for reading.