Two four-unit apartments 30 minutes south of Dallas TX

  • Apartment
    8000 ft2
    bedroom 16 Bedrooms
    bathroom 8 Baths
  • Flip/Rental
    $300,000
    Status : Available
    Year Built : 2005
 Description
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.  Total monthly gross rents when occupied exceed $4,600. One unit is currently vacant and total gross rents are over $4,000.  County tax appraisal is over $370,000.  Seller can hold a small second mortgage, about 10%, for up to ten years. 
 Rehab Work Needed
  • Floor
  • Paint Exterior
  • Paint Interior
  • Yard
 General Amenities
 Distance
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 Summary

Overview
Two four-unit apartments 30 minutes south of Dallas TX Flip/Rental
$300,000
Property ID: TX190519194
Address: Login to View
City: Itasca
State/Province: TX
Zip Code: 76055
Country: USA


Rental Analysis

+ Purchase Price: $300,000
+ Purchase Closing Cost: $9,000
+ Rehab Cost: $10,000
Total Acquisition Cost: $319,000


Monthly Rent: $4,600
+ Annual Potential Rent: $55,200
- Vacancy (3%): $1,656
Annual Gross Income: $53,544
Annual Gross ROI: 16.78%


Flip Analysis

+ Purchase Price: $300,000
+ Purchase Closing Cost: $9,000
+ Rehab Cost: $20,000
Total Acquisition Cost: $329,000


+ Selling closing cost: $12,000
+ Agent Commision : $12,000
+ Insurance (6 Months) : $3,000
+ Utilities (6 Months): $3,000
+ Miscellaneous Expenses: $2,000
Total Holding Cost: $32,000


Total Flip Cost: $361,000
Projected ARV: $400,000
Net Income (Profit): $39,000
CAP Rate: 10.8%

 Message

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