If that property is in a nice location and the rent rate is legit I'm surprised it hasn't sold yet. The numbers check out. Very similar to deals I look for in my market.
Updated 11 months ago
Not sure how you added that value but nothing is impossible.
@Joel Polanco , your expenses look pretty good. CapEx and management may be a touch high. The one red flag I noticed is your ARV. I don't see you adding $25k of value with only $8k of renovations. The listing even says, "turnkey," so why would it be priced so far under market?
@Joel Polanco , SFRs don't meet my investment criteria, so for that reason I wouldn't. That said, I ran your numbers against my typical underwriting and came up with monthly CF of ~$230 and a CoC ROI of ~12%. With those numbers, I would definitely dig into this further.
@Joel Polanco Heck yeah I'd make an offer if I was in your market and looking for cash-flow. I'm sure the house has surprises but that risk comes with investing.
Agree with @Jaysen Medhurst here. Good enough to dig further for sure.
@Joel Polanco what was the result, did you dive deeper and/or make an offer?