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Updated about 9 years ago on .
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Midwest *Ground-Up* Turnkey #15
NOTE: *Ground-Up* Turnkeys ~ Cash buyers only (not a flip)
- 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: no garage, built 1900. Closing date: 1/29/16
- Price: $31,500
- Rehab: $28,500
- Carrying Costs: $1,000
- Closing Costs: $2,000
- Total Turnkey Price: $63,000
- ARV: $65,000
Trulia
Rental Projections
- Monthly Rent: $775
- Taxes: $99
- Management: $62
- Vacancy Reserve: $39 suggested
- Insurance: $70
- Maintenance Reserve: $39 suggested
- Net: $467
- Monthly x 12: $5,603
- Strictly Cash on Cash ROI: 9.34%
Financed/Refinanced 75%
- Down Payment: $15,000
- Mortgage Interest Rate: 5%
- Mortgage Amortization: 25
- Mortgage Monthly Payment: $263.07
- Net Cash Flow Less Mortgage: $203.89
- Net Net x 12: $2,447
- Financed Cash on Cash ROI: 16.31%
COMPS
717 17th Ave Moline ~ Sold $72,000 8/14 (68.25)
- 2/1.5 1055 sqft
- 1.5 story frame built 1900
- 1 car garage/ basement
- 1 mile away
516 18th Ave Moline ~ Sold $74,000 3/15 (60.36)
- 3/1.5 1226 sqft
- 2 story frame built 1910
- 2 car garage/ basement
- 1 mile away
148 15th Ave Moline ~ Sold 61K 10/15 (74.75)
- 2/1 816 sqft
- 1 story frame built 1944
- garage/unsure of basement
- .7 miles away
116 18th Ave Moline ~ Sold $61,890 1/15 (90.22)
- 2/1 686 sqft
- 1 story frame built 1948
- unsure of garage/ basement
- 1.3 miles away
Comps on a Map
Offering