AmazingOffMarketFlipinRoyalOakWith21CAP House Flip/Rental at Cash Flow Investors Portal in Florida, USA

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 Amazing Off-Market Flip in Royal Oak With 21% CAP

  • House
    1200 ft2
    bedroom 3 Bedrooms
    bathroom 2 Baths
  • Flip/Rental
    $184,900
    Status : Sold
    Year Built : 1951
 Description
Property Description: Opportunities like this one rarely pop up in the Royal Oaks area.  The property is only in need of an interior, cosmetic upgrade. The property is currently rented for 1,200/month and the lease expires in October, however the tenant is open to leaving sooner if requested. This is a great opportunity for any investor looking for their next flip with an amazing 21.3% CAP ROI or to simply purchase a great buy and hold property that has a huge equity position.

Property features include: architectural shingle roof replaced 12 years ago, gleaming wood floors, and a fully intact central AC system.  Call or email for more details.  This property is certain to sell quickly!
 Rehab Work Needed
  • Appliances
  • Bathroom
  • Floor
  • Kitchen
  • Light Fixtures
  • Master Bedroom
  • Yard
 General Amenities
 Distance
Comparables (Comps.)

Comparable #1

201 N EDISON Avenue, Royal Oak, MI, USA, 48067

Sold : $261,200

Comparable #2

1006 SYMES Court, Royal Oak, MI, USA, 48067

Sold : $290,000

Comparable #3

216 N EDGEWORTH , Royal Oak, MI, USA, 48067

Sold : $285,000

Image Gallery
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 Summary

Overview
Amazing Off-Market Flip in Royal Oak With 21% CAP Sold
$184,900
Property ID: 5b4414927605b
Address: Login to View
City: Royal Oak
State/Province: MI
Zip Code: 48067
Country: USA


Rental Analysis

+ Purchase Price: $184,900
+ Purchase Closing Cost: $5,547
+ Rehab Cost: $0
Total Acquisition Cost: $190,447


Monthly Rent: $1,200
+ Annual Potential Rent: $14,400
- Vacancy (0%): $0
Annual Gross Income: $14,400
Annual Gross ROI: 7.56%


Flip Analysis

+ Purchase Price: $184,900
+ Purchase Closing Cost: $5,547
+ Rehab Cost: $20,000
Total Acquisition Cost: $210,447


+ Selling closing cost: $4,125
+ Agent Commision : $13,750
+ Insurance (6 Months) : $1,200
+ Utilities (6 Months): $1,500
+ Miscellaneous Expenses: $1,000
Total Holding Cost: $21,575


Total Flip Cost: $232,022
Projected ARV: $275,000
Net Income (Profit): $42,978
CAP Rate: 18.52%

 Message

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