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Updated over 5 years ago,

User Stats

35
Posts
9
Votes
Jeff Ostrander
  • Rental Property Investor
  • Arkansas
9
Votes |
35
Posts

Duplex construction oppurtunity

Jeff Ostrander
  • Rental Property Investor
  • Arkansas
Posted

Twelve Duplexes

Property Information and Income Potential

Units

Description

Square Footage

Monthly Rent

Income

24

3 Bedroom, 2 Bath

1400

$ 1,400.00

$ 33,600.00

Total Income

$ 33,600.00

Development and Construction Cost

Quantity

Description

Unit Cost

Total Cost

12

Lots

$ 15,000.00

$ 180,000.00

33600

Construction

$ 89.00

$ 2,990,400.00

Total Cost

$ 3,170,400.00

Financing Details

Estimated Appraised Value

$ 3,588,000.00

Requested Loan to Value

80.00%

Total Loan

$ 2,870,400.00

Down Payment

$ 300,000.00

Term

20 Years

Rate

5.25%

Monthly Payment

$ 19,343.00

Property Expenses (Monthly)

Note Payment

$ 19,343.00

Vacancy Rate 2%

$ 672.00

Management 7%

$ 2,352.00

Maintenance 7%

$ 2,352.00

Property Taxes

$ 2,800.00

Insurance

$ 1,400.00

Total Expenses

$ 28,919.00

Perfomance

Caitalization Rate

9.09%

Net Monthly Income

$ 4,681.00

Annual Income

$ 56,172.00

Debt Coverage Ratio

1.73706250323114

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