Acquiring this property, my numbers...
Hello Biggerpockets community!
This is my first post, Ill make it short.
This is a 2/1 SF home, needs only a exterior paint job and new carpet, at the end of the current tenants lease. Roof is "good for another 4 years" and my numbers are based on paying the full asking price - (Yes, I will negotiate that) Would you pursue this property?
Thanks!
PS Any other KREIA members of out there? (Kentucky Real Estate Investors...)
| 45,000 @ 5.0, 30 Years | ||
| House | Per Month | Yearly |
| Asking Price | $60,000.00 | |
| $$ Down | $15,000.00 | |
| Repais + Misc cost | $10,000.00 | |
| Cash Outlay | $25,000.00 | |
| Gross Rent | $650 | $7,150 |
| 50% Rule | $325.00 | $3,900.00 |
| TRUE NOI | $325.00 | $3,900.00 |
| Debt Service | $228 | $2,736 |
| CASH FLOW | $97.00 | $1,164.00 |
| COCR | 0.39% | 0.04656 |
| CAP RATE | 0.005416667 | 0.065 |
| Payback | 0.00388 | 0.04656 |
| Payoff | 288.6597938 | 24.05498282 |
| CASH FLOW | $97.00 | $1,500.00 |
| ~EQUITY ACRUAL | $228.00 | $1,800.00 |
| APPRECIATION | $50.00 | $600.00 |
| TOTAL RETURNN | $375.00 | $3,900.00 |
| TOTAL ROI | 1.50% | 16% |