OUR PROPERTIES

Before And After

North Carolina

This property is in the Charlotte NC market. We were able to secure it and renovate, adding a signed lease for occupancy before the property was even finished. Take a look at the before/after pictures below, as well as the rehab scope of work & the investor figures at the very bottom!

Street View

Kitchen

Bathroom

Rehab Scope of Work

  • Electrical rewiring (light fixtures, washing machine, smoke detectors)
  • Tile backsplash 
  • Pain all interior 
  • Pain exterior
  • New doors
  • Re-attach and repair HVAC exhaust vent
  • Repair siding & wood exterior
  • Re-key
  • Downspout & extender installation
  • Replace 27 shingles on roof 
  • Repair crawlspace ventilation 
  •  Clean & repair carpets
  • New landscaping

1 year performance projection

Square Feet1,179
Market Value$120,000
Purchase Price$120,000
Downpayment$24,000
Closing Costs & Fees$3,000
Initial Cash Invested$24,600
Cost Per Square Foot$102
Monthly Rent Per S/F$0.84
Concession/Seller Credit$2,400
IncomeMonthlyAnnual
Gross Rent (range 995-1050)$995$11,940
Vacancy Losses (Estimate)-$80-$955
Operating Income$915$10,985
ExpensesMonthlyAnnual
Mortgage Payment-$560.23-$6,722.76
Property Taxes-$60-$720
Insurance-$78-$936
Management$80$955
Maintenance (Estimate)$0$0
Operating Expenses-$619-$7,424
Net Performance (Day 1)MonthlyAnnual
Net Operating Income$297$3,561
Debt Paydown$100$1,203
Total Return$397$4,764
Concession$2,400
Cash Return (Actual Year 1)28.12%
Cash Return (Estimated w/ Vacancy)24.23%
Cash Return (Year Over Year)18.36%

Mortgage Info

Loan-to-Value Ratio80%
Loan Amount$96,000
Monthly Payment-$560.23
Ammortization Months360
Loan Term30
Interest Rate5.75%

Assumptions

Appreciation Rate5%
Vacancy Rate8%
Maintenance Rate0%
5yr Value$150,000
Profit If Sold$53,820

Included

1 Yr Maintenance Warranty$500

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