Rental Project
Burlington, Ia
Bedrooms: 4, Bathrooms: 2.0, Sqft: 2084, Lot Size: 1742, Year Built: 1895
Brought to you by:
D&A Property Solutions
844-450-4000
marcus@dapropertysolutions.com
Notes
Turnkey Rental with Tenants already in place
GREAT BUY/HOLD Located within blocks of the Mississippi River
Current Rent: $875
Market Rent: $975 - $1100
BRRR is possible, not necessary!
Main Repairs: (1) Gutter replacement & (2) sections of Siding need Replacement
Furnace: 6 yrs old | Roof: 10 yrs old
Deal Summary
Initial Investment
Purchase Price | $49,750 | |
Purchase Costs | $1,990 | |
Rehab Costs | $25,000 | |
Rehab Contingency () | $0 | |
Construction Holding Costs | $0 | |
Total Project Costs | $76,740 | |
Financing | ($46,566) | |
Cash out of Pocket | $30,174 |
Property Value
After Repair Value (ARV) | $100,000 | |
Annual Appreciation Rate | 2.50% | |
Value at Project End | $100,000 |
Project Timing
Construction Time | 0.0 Months | |
Rental During Rehab? | No | |
Income Starts in Month | 1 | |
Total Project Length | 1 Years |
Financial KPIs
Cash Flow (Year 1) | $1,001 | |
Cash-On-Cash Return (Year 1) | 3.32% | |
Internal Rate of Return (Project) | 0.00% |
Monthly Cash Flow (Starting Month 1)
Income
Gross Scheduled Rents | $875 | |
Scheduled Other Income | $0 | |
Vacancy Loss | ($0) | |
Effective Monthly Income | $875 |
Expenses
Property Taxes | ($94) | |
Property Management | ($88) | |
Utilities | ($0) | |
CapExUsing average monthly | ($0) | |
Total Expenses | ($181) |
Cash Flow
Effective Monthly Income | $875 | |
Expenses | ($181) | |
Loan PaymentDoes not include origination | ($360) | |
Monthly Cash Flow | $334 |
Annual Performance
| Project Year | 1 |
|---|---|
| Gross Income | |
| Scheduled Gross Rents | $2,625 |
| Scheduled Other Income | $0 |
| Total Sch. Gross Income | $2,625 |
| Vacancy Loss | ($0) |
| Effective Gross Income | $2,625 |
| Operating Expenses | |
| Property Taxes | ($281) |
| Property Management | ($263) |
| Utilities & Expenses | $0 |
| Total OpEx | ($543) |
| Net Operating Income | $2,082 |
| Capital Expenditures | |
| Replacements | $0 |
| Net Income After Expenses | $2,082 |
| Financing | |
| Principal | ($84) |
| Interest + Fees | ($996) |
| Total Payment | ($1,080) |
| Performance | |
| Cash Flow | $1,001 |
| Property Value | $100,000 |
| Cap Rate | 2.08% |
| Gross Rent Multiplier (GRM) | 38.10 |
| Operating Expense Ratio (OER) | 20.70% |
| Outstanding Loans | ($46,510) |
| Equity | $53,490 |
| Rolling Income After Expenses | $2,082 |
| Rolling Loan Interest & Fees | ($996) |
| Acquisition & Disposition | ($51,740) |
| Profit From Sale Includes sale profit and rolling income | $24,346 |
CMA Summary
By Average of Sales
Adjusted Comps
Avg of Adjusted Sales ARV | $98,100 | |
Subject Sqft | 2,084 | |
Adjusted $/sqft | $47 |
Unadjusted Comps
Avg of Sales ARV | $98,100 | |
Subject Sqft | 2,084 | |
Avg of Sales $/sqft | $47 |
By Average of $/Sqft
Adjusted Comps
Avg of Adjusted $/sqft | $52 | |
Subject Sqft | 2,084 | |
Calculated Adj. ARV | $108,889 |
Unadjusted Comps
Avg of Unadjusted $/sqft | $52 | |
Subject Sqft | 2,084 | |
Calculated ARV | $108,889 |
CMA Detail
| Basics | Subject | Comparable | Comparable | Comparable | Comparable | |||||
| Image Not Available | Image Not Available | Image Not Available | Image Not Available | ||||||
| Address | Burlington, Ia | Burlington, Ia | Burlington, Ia | Burlington, Ia | Burlington, Ia | |||||
| Sold Date | 2009-12-14 | 2023-05-09 | 2022-11-16 | 2023-06-02 | 2022-04-01 | |||||
| Sold $ | $6,000 | $99,500 | $95,000 | $99,900 | $98,000 | |||||
| Sqft | 2,084 | 1,699 | 2,000 | 1,631 | 2,396 | |||||
| $/sqft | $3 | $59 | $48 | $61 | $41 | |||||
| Features | Feature Values | Units | Units | Adjustment | Units | Adjustment | Units | Adjustment | Units | Adjustment |
Bedrooms | $0 | 4.00 | 3.00 | $0 | 4.00 | $0 | 4.00 | $0 | 5.00 | $0 |
Bathrooms | $0 | 2.00 | 2.00 | $0 | 2.00 | $0 | 2.00 | $0 | 2.00 | $0 |
Garage spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Carport spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Lot size sqft | $0 | 1,742.00 | 8,973.00 | $0 | 6,186.00 | $0 | 8,886.00 | $0 | 4,182.00 | $0 |
Basement sqft | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Has pool | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Has view | $0 | 1.00 | 1.00 | $0 | 1.00 | $0 | 1.00 | $0 | 1.00 | $0 |
| Adjustment Subtotals | $0 | $0 | $0 | $0 | ||||||
| Adjusted $/sqft | $47 | $59 | $48 | $61 | $41 | |||||
| Adjusted ARV $ | $98,100 | $99,500 | $95,000 | $99,900 | $98,000 | |||||
| Notes | ||||||||||
Purchase Costs
| Name | Type | Cost | |
| Closing | 4.00 % of Purchase | $1,990 | |
| Total Purchase Costs: | $1,990 | ||
Loans
| Name | Amount Financed ($) | Rate (%) | Points | Fees | Term | Total of Payments |
| Average Mortgage. An amortized purchase loan for the financing of purchase costs | $46,566 | 8.56% | 0.00 | $0 | 30 Years | $1,080 |
| Total Payments: | $1,080 | |||||
Summary Rehab Estimate
| Category | ($) Amount | |
| Other | $25,000 | |
| Total Rehab Cost: | $25,000 |
Property Photos
