OFF-MARKET Rented Duplex in Garland (DFW) TX
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
Need more info or want to submit an offer:
Estimated/Project Financial Analysis
| Financial Analysis / Deal Attractiveness | |
| Years: | 5 |
| Cap Rate | 6.4% |
| 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 ROI | 134.8% |
| Annual ROI | 27.0% |
| Projected Property Value | $340,663 |
| Property Specifications | Per Door | |
| Bedrooms | 4 | 2 |
| Bathrooms | 3 | 1.5 |
| Square Feet | 2248 | 1124 |
| Year Built | 1969 |
| Purchase Assumptions | My Offer | Per 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 Rate | 3.65% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | $961 | ||
| Cash Outlay (Total Out of Pocket) | $79,500 | ||
| Financial Assumptions | Monthly | Yearly | ||
| 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 PM | 8.0% | |||
| Property Management Fee | $200 | $2,400 | ||
| Leasing Fee | 80% | $83.3 | $1,000 | |
| HOA | $33 | $396 | ||
| Vacancy Rate | 4.0% | |||
| 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: Duplex | 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 |