Feedback on house hack deal

1 Reply

Hey, what's up guys? I am very excited about my first 100% seller financing deal. 

Is there any way that I can attach a BP deal analysis PDF to this forum for some feedback? 

If attaching it is not possible, what data criteria should I post? There's a lot of data on those reports and I'm only beginning to get a clue about what I'm doing. 

Thanks 

My first duplex

Vernon Terrace, Poughkeepsie, NY 12601

Monthly Income: Monthly Expenses: Monthly Cash Flow: Pro Forma Cap Rate:

 $2,350.00                  $1,573.88            $776.12                  19.08%

NOI Total Cash Needed Cash on Cash ROI Purchase Cap Rate

$15,649.00    $2,000.00           465.67%            19.56%

Property Information

Purchase Price: $80,000.00

Purchase Closing Costs: $0.00

Estimated Repair Costs: $2,000.00

Total Cost of Project: $82,000.00

After Repair Value $110,600.00

2 Family duplex. Each unit 2 Beds/1 Bath, 750 SF. Detached single

garage with shared driveway. Unfinished basement. In ground pool.

Separate Gas & electric. 5 year old roof, boiler, oil tank and hot

water heater. Analysis based on current market rental rates. ***See

other notes.

Down Payment: $0.00

Loan Amount: $80,000.00

Loan Points: $0.00

Loan Fees:

Amortized Over: 20 years

Loan Interest Rate: 5.000%

Monthly P&I: $527.96

Income

1 Unit $1,400.00    2 Unit $950.00

Other $0.00

Total $2,350.00

Expenses

Vacancy $70.50 Repairs $47.00

CapEx $117.50 Electricity $200.00

Water $25.00 Sewage $25.00

Garbage $51.00 Insurance $82.00

P&I $527.96 Property Taxes $152.92

Misc: Fuel oil $275.00

Total $1,573.88

Buy & Hold Analysis - 08/27/15 04:43:50

Financial Projections

Total Initial Equity: $30,600.00

Gross Rent Multiplier: 2.84

Income-Expense Ratio (2% Rule): 2.87%

Typical Cap Rate: 5.00% Debt Coverage Ratio: 2.47%

ARV based on Cap Rate: $312,980.00

50% Rule Cash Flow Estimates

Total Monthly Income: $2,350.00

x50% for Expenses: $1,175.00

Monthly Payment/Interest Payment: $527.96

Total Monthly Cash flow using 50% Rule: $647.04

House Size (sq. ft) 1500

Year Built 1941

Year Renovated 2001

Units 2

Stories 2

Property Type Small Multifamily (2-4 Units)

County Appraised Value 110600

Pool Yes

Heating Yes

Garage 1

Construction Wood

Roofing Shingle

Flooring Types Hardwood & Carpet

Wiring Condition Good

Plumbing Condition Good

Siding Material Wood

Other Info: Owner/ buyer will occupy 1 floor unit for 24 months. Refinance at after 24 months to pay off remaining balance on seller's note and then rent to tenant. This

house is 5 minutes from my job, so I'm looking at this deal as a means to

stop paying my current landlord 1,100 a month and put that money in my

investment instead. Not to mention the elimination of my 1 hour commute to

work.

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