Missouri
This property is in a suburb of Kansas City MO. We were able to secure it and renovate, adding a signed lease for occupancy before the property was 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
Living Room
Rehab Scope of Work
- Fence repair
- Wood repair back deck
- Gutter repair
- New exterior lighting
- New shutters
- Front door repair
- Sheetrock repair
- New electrical
- New light fixtures
- New hardware throughout the home
- 5 new doors
- Bathroom remodel (2)
- Flooring repair
- New trim
- New smoke alarms
- HVAC service
1 year performance projection
| Square Feet | 1,206 |
| Market Value | $160,000 |
| Purchase Price | $160,000 |
| Downpayment | $40,000 |
| Closing Costs & Fees | $2,000 |
| Initial Cash Invested | $38,000 |
| Cost Per Square Foot | $156 |
| Monthly Rent Per S/F | $1.41 |
| Concession | $3,200 |
| Income | Monthly | Annual |
| Gross Rent (range 995-1050) | $1,450 | $17,400 |
| Vacancy Losses (Estimate) | -$116 | -$1,392 |
| Operating Income | $1,334 | $16,008 |
| Expenses | Monthly | Annual |
| Mortgage Payment | -$700.29 | -$8,403.45 |
| Property Taxes | -$120 | -$1,440 |
| Insurance | -$104 | -$1,248 |
| Management | $98 | $1,176 |
| Maintenance (Estimate) | $0 | $0 |
| Operating Expenses | -$1,022 | -$12,267 |
| Net Performance (Day 1) | Monthly | Annual |
| Net Operating Income | $312 | $3,741 |
| Debt Paydown | $125 | $1,503 |
| Total Return | $437 | $5,244 |
| Concession | $3,200 |
| Cash Return (Actual Year 1) | 21.48% |
| Cash Return (Estimated w/ Vacancy) | 17.89% |
| Cash Return (Year Over Year) | 13.23% |
Mortgage Info
| Loan-to-Value Ratio | 75% |
| Loan Amount | $120,000 |
| Monthly Payment | -$700.29 |
| Ammortization Months | 360 |
| Loan Term | 30 |
| Interest Rate | 5.75% |
Assumptions
| Appreciation Rate | 3% |
| Vacancy Rate | 8% |
| Maintenance Rate | 0% |
| 5yr Value | $184,000 |
| Profit If Sold | $50,220 |
Included
| 1 Yr Maintenance Warranty | $500 |
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