Projected Rents are $1200 /mo (or $14,400 per year)

Taxes:

$1,500/year

Insurance:

$1,500 /year

Maintenance:

(10% of income) 🟰 $1,440 /year

Utilities:

TENANTS PAY FOR ALL UTILITIES

TOTAL EXPENSES:

🟰 $4,440 /yr or $370/mo

0% INTEREST ❗❗❗ Wow!!!

$65,000 Owner Finance Note amortized over 20 years (balloon payment due in 5 years)

$270.83 /mo ($3,250 /Year Paid to the Owner)

There balloon payment in 5 years will be $49,021.03

$6,750 per YEAR (see breakdown below)👇

Total Annual Income 🟰 $14,400

Total Annual Expenses 🟰 $7,650

Taxes, Insurance, Maintenance ($4,440)

Owner Finance Payments ($3,250)

CASH FLOW EQUATION:

$14,400 Income ➖ $7,650 Expenses & Debt Service

🟰 $6,750 /yr ($562.50 /mo)

That's $562.50 NET in your pocket EACH MONTH (after expenses are paid!)

Cash Flow Collected

First year 🟰 $6750

Total Cash Needed to get the Deal:

$30k down payment + $1,500 Closing Costs

🟰 $31,500

$6750 Cash Flow Collected ➗ $31,500 Cash Needed

🟰 21.67% CoC Return

(over 1/5 of cash collected back in the first year!)

5 year cash flow collected = 6750 x 5 = $33,750

You will then have to purchase (or finance) for $49,021.03 after 5 years

You could either buy for cash or refinance

Projected Refinance:

if you get $49k and put 10% down ($4900) at a 5% interest and a 20 year note

your monthly payment will be $291.04

None! this thing was recently renovated. It does need any cash for repairs, it is ready for a tenant to move in immediately.

Yes we do! Projected ARV = $127,500

See Comps Below 👇

COMP 1:

1807 24th St, Orange, TX 77630

3 bd, 1 ba, 1524 SqFt

Sold on 11/09/2023 for $139,000 ($92 /sqft)

COMP 2:

1009 12th St, Orange, TX 77630

2 bd, 2 ba, 1276 SqFt

Sold on 11/30/2023 for $129,000 ($101 /sqft)

COMP 3:

2207 McKee Dr, Orange, TX 77630

3 bd, 1 ba, 1166 SqFt

Sold on 10/31/2023 for $120,000 ($103 / sqft)

COMP 4:

2207 McKee Dr, Orange, TX 77630

2 bd, 1 ba, 1367 SqFt

Sold on 11/30/2023 for $109,000 ($80/SqFt)

COMP 5:

2205 Bonnie St, Orange, TX 77630

2 bd, 1 ba, 1126 SqFt

Sold on 10/27/2023 for $99,000 ($112 / SqFt)

Average Sales Price: $119,200

Average Price /SqFt: $98 /sqft

($98 x 1392 SqFt = $136,400)

Projected ARV = $127,500

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