SOLD ~ 20% Cap Rate…48% Cash on Cash Return Investor Special ~ lipstick rehab

SOLD ~ 20% Cap Rate…48% Cash on Cash Return Investor Special ~ lipstick rehab

20% Cap Rate…48% Cash on Cash Return Investor Special ~ lipstick rehab

2022 Agler 2

2022 Agler

Property Location: 2022 Agler Rd. Columbus, OH 43224

Description:  2 bed, 1 bath home in great condition. Property was just renting at 550.00 per month prior to the owner no longer wanting to renew the lease. This property has almost all new Anderson Windows, new copper plumbing, New Water heater, and is connected to city water and sewer. The front porch is only 7 years old with newer siding. Carpet and paint is all that is needed to start making some crazy returns!

Property Card 

RealQuest Evaluation

Zillow Evaluation

Purchase Analysis

Acquisition Cost = $22,000
Rehab Cost =           $2,900 (Carpet and Paint *installation, material, and labor)
Closing Cost @ 3% = $747.00
Total Purchase Cost = $25,647

Cap Rate Analysis

Gross Income @ $550.00 per month rent = $6600
– $1074 (Insurance) + ($400) Expenses
NOI = $5126

  $5,126 (NOI)
$25,647 (Purchase Cost)

Cap Rate = 20%

Cash Flow Before Taxes Analysis

$5126 = NOI
-2390 = Debt Service
Total = $2736

Cash on Cash Return Analysis (Assumption of Using Hard Money)

Total Amount Borrowed = (Purchase Cost + Rehab+ 5% Hard Money Cost) = $24,900
Amount Borrowed @ 20% Down
= $26,969 x .80 = $19,920
Debt Service Annual Payments @ 12% Interest = $2,390
Down Payment = $4,980
Acquisition Cost = (Down Payment+ Closing Cost) = $5727

Cash on Cash = NOI – Debt Service
                                    Acquistion Cost

= $5,126 – $2,390
         $5727

                 = 48% Annualized Cash on Cash Return @ 12% Hardmoney

Terms: Cash or Hard Money

Viewing Instructions: Drive by

Important = 22K is net to seller

Call 614-636-1361

 

 

facebook like