OFF-MARKET Rented Duplex in Garland (DFW) TX

$ 280,000.00
Negotiated

About this property/opportunity

  • The owner is a client of SDI’s local property management co. 
  • 280k is the negotiated price w/ the seller. 
  • It’s older but a solid rental. 
  • The tenants are both good on payments and due for increases to 1200.00. Paying 1050 and 1125 right now through May 31. 
  • Schools: 8/7/5

Next Step

Email/text/call me or James for more Question of to put an offer

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    Estimated/Project Financial Analysis

     

    Financial Analysis / Deal Attractiveness
    Years:5
     Cap Rate6.4%
     Net Cash Flow$25,312
     Equity Increase$81,818
     Total Gain$107,130
     Average Cash Flow/Year$5,062
     Average Cash Flow/Month$422
     Average Gain/Year$21,426
     Average ROI134.8%
     Annual ROI27.0%
     Projected Property Value$340,663

     

    Property SpecificationsPer Door
     Bedrooms42
     Bathrooms31.5
     Square Feet22481124
     Year Built1969

     

    Purchase AssumptionsMy OfferPer Door
    Asking$280,000$140,000
    Suggsted offer (low)$280,000$140,000
    Suggsted offer (high)$280,000$140,000
    Suggsted offer (options)$280,000$140,000
    Land Value (%)25%
    Building Value (%)75%
     Market Value (after improvements)$280,000$140,000
     Improvements (lower)$3,500
     Improvements (upper)$5,500$4,500
     Closing Costs$2,500
     Mortgage Costs$2,500
     Other Fees At Closing$0
     Total Cost$289,500

     

     

    Financing Assumptions
     Down Payment (%)25%
     Down Payment Amount$70,000
     Financed Amount$210,000
     Interest Rate3.65%
     Mortgage Term (Years)30
     Monthly Mortgage Payment$961
     Cash Outlay (Total Out of Pocket)$79,500

     

     

    Financial AssumptionsMonthlyYearly
    Rent (upper)$2,500$2,600$31,200
    Rent (lower)$2,400$28,800
     Property Tax Rate (Approx.)2.50%
     Property Taxes$583$7,000
     Insurance$110$1,320
     Repairs$70$840
    Variable-Cost PM8.0%
    Property Management Fee$200$2,400
     Leasing Fee80%$83.3$1,000
     HOA$33$396
     Vacancy Rate4.0%
     Total Fixed Expenses$1,172$14,060
     Total Expenses (Fixed + Mortgage)$2,132$25,588

     

     

    Disclaimer

    Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

    The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.

    Basic Facts

    Property ID: 1796 Post updated: 2022-02-10 16:52:00 Type: Bedrooms: 4
    Bathrooms: 3 Floors: 1 Area: 2248 sq ft Year built: 1969
    Property taxes (annual): $ 7,000.00 Insurance (annual): $ 1,350.00 Date added: 04/14/21

    Financial Estimates

    Rent estimate: $ 2,800.00

    Leasing & Tenant Info

    Occupancy: Occupied
    Current rent: $ 2,400.00
    Market rent: $ 2,800.00
    Is this section 8?: No

    This style property is located in is currently and has been listed on KaVaDoo. This property is listed at $ 280,000.00. It has 4 beds bedrooms, 3 baths bathrooms, and is 2248 sq ft. The property was built in 1969 year.