Executive Summary
Singlefamily: 4 bedrooms , 2 bathrooms
Year built: 1926, Size: 1232 SF
Investment strategy: Rental Property
The actual rehab needed for this duplex is $15,000, it needs a new roof($4,000), an HVAC system($8,000), and some minor electric & plumbing work($3,000). The remaining $10,000 is for optional cosmetic updates.
4-point inspection report: https://drive.google.com/file/d/1WZUhtD7UIAlKqD3xp-v5Lz0zlp_fcOcd/view?usp=sharing
Formal Appraisal link: https://drive.google.com/file/d/1ob75FSB4FJ5vcLGwG_tXtWEvB82hE_Th/view?usp=sharing
Off Market Properties
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Purchase Price $ 210,000
Rent $ 2,200/mo
Monthly Cash Flow $ 688
Cash on Cash Return 66.02 %
Financial Analysis
| Cash on Cash Return | 66.02 % |
| Internal Rate of Return (IRR) | 85.45 % |
| Capitalization Rate | 7.26 % |
| Gross Rent Multiplier (GRM) | 10.61 |
| Debt-coverage Ratio (DCR) | 1.68 |
| Operating Expense Ratio (OER) | 20.64 % |
| After Repair Value | $ 280,000 |
| Profit/Equity From Rehab | $ 43,500 |
Operating Analysis
| Rent | $ 2,200/mo |
| Gross Operating Income (GOI) | $ 25,608 |
| Total Expenses | $ 5,285 |
| Net Operating Income (NOI) | $ 20,323 |
| Annual Debt Service | $ 12,070 |
| Cash Flow Before Taxes (CFBT) | $ 8,253 |
| Income Tax Liability | $ 1,611 |
| Cash Flow After Taxes (CFAT) | $ 6,642 |
Financial Breakdown
| Purchase Price | $ 210,000 |
| Purchase Costs | $ 1,500 |
| Repair/Construction Costs | $ 25,000 |
| Total Capital Needed | $ 236,500 |
| Financing | $ 224,000 |
| Total Cash Needed | $ 12,500 |
| Cash at Closing | $ 0 |
| Cash During Rehab | $ 12,500 |
Property Description
| Purchase Price | $ 210,000 |
| Address | 904 E 31st Ave, Tampa, 33603, FL |
| Year Built | 1926 |
| Type | Single Family |
| Size | 1,232 SF |
| Bedrooms | 4 |
| Bathrooms | 2 |
Operating Analysis
Annual Property Operating Data
| Incomes | % of GOI | |
|---|---|---|
| Gross Scheduled Income | $ 26,400 | |
| Total Gross Income | $ 26,400 | |
| Vacancy loss | $ 792 | |
| Gross Operating Income | $ 25,608 | 100.00 % |
| Expenses | ||
| Property manager | $ 2,561 | 10.00 % |
| Insurance | $ 1,500 | 5.86 % |
| Property tax | $ 1,224 | 4.78 % |
| Total Expenses | $ 5,285 | 20.64 % |
| Net Operating Income | $ 20,323 | 79.36 % |
Cash Flow (Year 1)
| Net Operating Income | $ 20,323 | 79.36 % |
| Annual Debt Service | $ 12,070 | 47.13 % |
| Cash Flow Before Taxes (CFBT) | $ 8,253 | 32.23 % |
| Income Tax Liability | $ 1,611 | 6.29 % |
| Cash Flow After Taxes (CFAT) | $ 6,642 | 25.94 % |
Operating Ratios
| Operating Expense Ratio | 20.64 % |
| Break-Even Ratio | 67.77 % |
Photos