Midwest *Ground-Up* Turnkey #13

[Marie McLean]

NOTE: *Ground-Up* Turnkeys ~ Cash buyers only

• under contract, inspected, iron-clad rehab costed out
• buyer takes title directly for stated turnkey price
• save: only one set of closing costs
• our Scope of Work doubles as a contract
• we will tenant and manage, unless buyer prefers another arrangement

Details: detached garage, stone, built 1949. Closing date: TBD

• Price: $56,000
• Rehab: $17,500
• Carrying Costs: $1,000
• Closing Costs: $2,000
• Total Turnkey Price: $76,500
• ARV: $79,000

Zillow

Trulia

Video Outside

Rehab Bid

Rental Projections

• Monthly Rent: $1,025
• Taxes: $185
• Management: $82
• Vacancy: $51 suggested
• Insurance: $80
• Reserve: $51 suggested
• Net: $576
• Monthly x 12: $6,909
• Strictly Cash on Cash ROI: 9.40%

Refinanced 75%

• Down Payment: $18,375.00
• Mortgage Interest Rate: 5%
• Mortgage Amortization: 25
• Mortgage Monthly Payment: $322.26
• Net Cash Flow Less Mortgage: $253.49
• Net Net x 12: $3,042
• Financed Cash on Cash ROI: 16.55%

COMPS

3934 N 42nd Street ~  Sold 8/15 $85,000. (65.99/sqft)

• 3BR/1.5BA, 1288 sqft
• detached garage
• frame and brick 
• built 1938
• dated throughout
• .3 miles away

4505 W Medford Ave ~ Sold 10/15 $97,100. ($60.50/sqft)

• 3BR/1.5BA, 1605 sqft
• detached garage, brick and stone
• built 1935
• some rental upgrades throughout
• .6 miles away

4034 N 47th Street ~ Sold 12/15 $62,800. ($39.85/sqft)

• 4BR/1.5BA, 1576 sqft
• detached garage, brick 
• built 1950, dated throughout
• .2 miles away

Comps on a Map