Multi-family
13,120 sqft. Interior
11,761 sqft. Exterior
16 Bathrooms
16 Doors
Property Location
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Disclaimer:
As experts in property purchasing, we offer consultations and detailed analyses of rental income properties. However, the images, financial projections, and examples presented are for illustrative purposes only and do not guarantee returns or the expected profitability. The configurations and features of the properties may vary. We strongly recommend that you consider our guidance, but also conduct your own research and due diligence before making any investment decisions. Trust our expertise, but remember that all investments carry inherent risks. You are solely responsible for your investment decisions. Your trust is our priority.
Comprehensive Financial Details
At Great Front Door, transparency is key. We want you to have a clear understanding of all costs associated with your property investment. Below, we break down the pricing for Rental Income Property to help you make an informed decision
INVESTMENT DETAILS
- Description Amount
- Cash Due at Closing
- Down Payment: $ 574,000
- Agent Fees: $ 86,100
- Mortgage Fees: $ 22,960
- 1st Year's Insurance: $ 28,700
- 1st Year's Taxes: $ 28,700
- Total Closing Costs: $ 740,460
- Renovation Cost: $ 160,000
- Mortgage While Renovating: $ 15,850
- Property Management Fees: $ 32,507
- Total Initial Investment: $ 948,817
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INVESTORS CONSIDERATIONS
- Description Amount
- Listing Price: $ XX,XXX
- Fix and Flip Max Price: $ 3,688,733
- After Repair Value (ARV): $ 5,283,905
- Equity after Renovation (EaR): $ 1,465,088
- Max. Cash Available from EaR eligible for Cash Out Refinance: $ 1,172,070
- Remaining Total Initial Investment after Cash Out Refinance: $ 0
- Additional Cash Available after Total Initial Investment is Returned: $ 223,253
- Return of Investment via Cash Out Refinance: 1 month
RENTAL COMPARISON AND CASH FLOW
- Description Amount
- Monthly Income
- Avg. Monthly Rent ( 8 x 2-bed, 1-bath, 767-sqft rental unit): $ 2,198
- Avg. Monthly Rent ( 8 x 1-bed, 1-bath, 675-sqft rental unit): $ 1,865
- TOTAL Avg. Monthly Rent: $ 32,507
- Monthly Expenses
- Monthly Mortgage Payment: $ 15,850
- Monthly HOA (if any): $ 0
- Monthly Insurance: $ 2,392
- Monthly Tax: $ 2,392
- Monthly Maintenance: $ 2,392
- Monthly Property Management Fees: $ 3,251
- Total Monthly Payment: $ 26,276
- Monthly Cash Flow: $ 6,231
- Annual Cash Flow: $ 74,771
- Return of Investment via Rental Cash Flow: 13 years and 1 month
- Debt-Service Coverage Ratio (DSCR): 1.58
HOW WOULD I RETURN MY INITIAL INVESTMENT?
- Initial Investment: To acquire this property with listing price of $XX,XXX.XX and maximize the rental potential of this property, you will need an initial investment of approximately $948,817. This includes closing costs totaling $740,460 which is a down payment of $574,000, agent fees of $86,100 and mortgage fees of $22,960. Initial investment also includes your renovation budget of $160,000 and mortgage payments during the renovation over 1 months totaling $15,850.
- After Repair Value (ARV): The property has an After Repair Value (ARV) of $5,283,905. The maximum price for a Fix and Flip is estimated at $3,688,733. After completing all renovation costs, the Equity After Renovation stands at $1,465,088. Since there is positive equity after the renovation, you can perform a Cash Out Refinance with your mortgage assuming the ARV and get 80% of this equity back totaling $1,172,070 in cash after the renovation. This shortens the original Return of Investment duration because the entire Initial Investment can be cashed out of the property after the renovations and Cash Out Refinance are complete.
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ARV Comparison Data
Comparable Property Link After Repair Value (ARV) $000 $000 $000 Comparable Property Link: This is a sample rental unit link.
After Repair Value (ARV): $000Comparable Property Link: This is a sample rental unit link.
After Repair Value (ARV): $000Comparable Property Link: This is a sample rental unit link.
After Repair Value (ARV): $000 -
Rental Cash Flow:
This 2 bedroom, 1 bathroom, 767 square foot unit can be rented at an average of $2,198 per month. Comparable rents are $2,250, $2,195, $2,150 in this area. Monthly expenses total $26,276. That includes monthly mortgage $15,850, property management fees $3,251, HOA, and then monthly budgets for taxes $2,392, insurance $2,392 and maintenance $2,392. Monthly cash flow is $6,231 totaling to $74,771 in annual rental income. Returning a Total Initial Investment of $948,817 is estimated at 13 years and 1 month.
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Monthly Rent Price Comparison Data
Rental Unit Link Rent Estimate Square Feet $000 300sqf $000 300sqf $000 300sqf Rental Unit Details Rental Unit Link: This is a sample rental unit link.
Rent Estimate: $000
Square Feet: 300sqfRental Unit Link: This is a sample rental unit link.
Rent Estimate: $000
Square Feet: 300sqfRental Unit Link: This is a sample rental unit link.
Rent Estimate: $000
Square Feet: 300sqf - Return of Investment: Since there is positive Equity after the Renovation, you can perform a Cash Out Refinance with your mortgage assuming the After Renovation Value of $5,283,905 and get 80% of the $1,465,088 in Equity back in cash after the renovation totaling $1,172,070. This shortens the original Return of Investment duration of 13 years and 1 month to 1 month because the entire Initial Investment of $948,817 which included Closing Costs, Renovation Budget and getting tenants in, can be cashed out of the property after the renovations and Cash Out Refinance are complete. With Total Monthly Expenses amounting to $26,276, including mortgage payments, taxes, insurance, and maintenance, you can anticipate a Monthly Cash flow of approximately $6,231, resulting in an Annual Cash Flow around $74,771 going forward.
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