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Two four-unit apartments 30 minutes south of Dallas TX

Apartment

8000 square_feet

16 Bedrooms

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

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

1557949286_471197601_Itasca_Bath_(2)_jpeg.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%

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