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 Two four-unit apartments 30 minutes south of Dallas TX

  • Apartment
    8000 square_feet
    bedroom 16 Bedrooms
    bathroom 8 Baths
  • Flip/Rental
    $260,000
    Status : Available
    Year Built : 2005
 Description
Just reduced, cash flow cow!  This package includes two four-unit properties located on the same plat.  One was built in 2005, the other in 2009.  There is some deferred maintenance but nothing major.  All units  are currently occupied and total combined gross rents are over $4,600.  County tax appraisal value for 2019 is $379,810.  Hard money loan approved for 20% down, $10K in rehab and 1.0% points , possibly just 15% down if investor satisfies lender's criteria!
 Rehab Work Needed
  • Roof
 General Amenities
 Distance
Location Map
Files

Itasca_Apartment_Info_Sheet.pdf

Jack_Updated_Quadplex_Flyer.pdf

Image Gallery
1557949178_217750996_Itasca_Dining-Living_Room_jpeg.jpg
1557949178_217750996_Itasca_Dining-Living_Room_jpeg.jpg
1557949254_642379512_Itasca_Dining-Living_Room_jpeg.jpg
1557949270_750207215_Itasca_Kitchen_jpeg.jpg
1557949284_2878331_Itasca_Bedroom_jpeg.jpg
1557949285_523545855_Itasca_Living_Room.jpg
1557949286_471197601_Itasca_Bath_(2)_jpeg.jpg
1557949229_900386592_Itasca_Exterior_Single_Story.jpg

 Summary

Overview
Two four-unit apartments 30 minutes south of Dallas TX Flip/Rental
$260,000
Property ID: TX190519194
Address: Login to View
City: Itasca
State/Province: TX
Zip Code: 76055
Country: USA


Rental Analysis

+ Purchase Price: $260,000
+ Purchase Closing Cost: $5,200
+ Rehab Cost: $10,000
Total Acquisition Cost: $275,200


Monthly Rent: $4,600
+ Annual Potential Rent: $55,200
- Vacancy (3%): $1,656
Annual Gross Income: $53,544
Annual Gross ROI: 19.46%


Flip Analysis

+ Purchase Price: $260,000
+ Purchase Closing Cost: $7,800
+ Rehab Cost: $10,000
Total Acquisition Cost: $277,800


+ Selling closing cost: $12,000
+ Agent Commision : $12,000
+ Insurance (6 Months) : $3,000
+ Utilities (6 Months): $1,800
+ Miscellaneous Expenses: $2,000
Total Holding Cost: $30,800


Total Flip Cost: $308,600
Projected ARV: $400,000
Net Income (Profit): $91,400
CAP Rate: 29.62%

 Message

5 + 7 = ?