Turnkey Rental Opportunity in Hurst, TX! (D/FW)

[Joseph Pytcher]

Leased and Fully-Rehabbed Turnkey Property in Dallas/Fort Worth Area ($139,900)

This property in Hurst, Texas (in the Dallas/Fort Worth area) is ready for a busy investor looking for a solid investment. Investors do not have to deal with any of the following:

-Rehabbing: This property is fully rehabbed (details of the rehab are provided below)

-Creating a Rent-Ready Package: This property includes all appliances for the tenant.

-Financing: We have vetted lenders and will put you in contact with a reputable lender

-Property Management: We have a reputable property manager (OneProp) working on finding a tenant

-Leasing: Our property manager has several strong tenants interested in renting the property so that we can have a tenant in place for you once the rehab is complete

-Utilities: Tenant pays all utilities.

The rehab will be completed by 5/21/2014, and a tenant will move in immediately afterwards.

Property Details

Address: 524 Hurstview Drive, Hurst, TX 76053 (https://www.google.com/maps/place/524+Hurstview+Dr/@32.817411,-97.176411,17z/data=!4m2!3m1!1s0x864e7ed27d215693:0xec40dc31a408759a)

Post-Rehab Bedrooms: 3

Post-Rehab Bath: 2

Post-Rehab Garage: 2

Post-Rehab Square Feet: 1626

Sales Price: $139,900

Value of Comparable Properties:

1)$132,500 (http://www.zillow.com/homedetails/509-Patricia-Rd-Hurst-TX-76053/29134408_zpid/)

2)$132,000 (http://www.zillow.com/homedetails/773-Briarwood-Ln-Hurst-TX-76053/28920836_zpid/

3)$158,500 (http://www.zillow.com/homedetails/516-Hurstview-Dr-Hurst-TX-76053/29010743_zpid/ (property is right next door)

The Numbers

Monthly Revenue

Estimated Rent: $1,300

Monthly Expenses

Taxes: $210.77

Insurance: $81.66

Property Management Fee: $117

Homeowners’ Association Fee: $0

Maintenance: $20

Vacancy Allowance (Estimated at 5%): $65

Debt Service (Assuming 80% Loan-to-Value ($111,920) and 4.75% Interest Rate): $583.83

Cash Flow

Monthly Cash Flow: $221.74

Cash on Cash Returns (Assuming 20% Downpayment ($27,980))

9.51%

First-Year Return on Investment (Appreciation Assumed at 3% Annually)

24.51%

The purchase of this property also will provide you with two additional sources of returns:

1)Depreciation Deductions: Single-family homes may be depreciated over 27.5 years

2)Principal Reduction: Your tenant will be paying down the principal of your loan each month

The Rehab

Updated Kitchen

Updated Master and Secondary Bathrooms

Updated Floors Throughout

Fresh Paint

Complete Landscaping

Please send me a message for any more details or pictures. This project will be completed in 3 weeks and a tenant will already be in place once it's complete.