Davenport Iowa IA Rehab then Turnkey SFR 8-14% ROI with Comps

[Nate Armstrong]

Full Brochure Here

Please post below or PM me if interested.

2821 Dubuque St Davenport IA 52803

2 bed, 1 bath, 1079 sqft, 2 car garage, built 1930. Closing date: 4/25/16

Zillow

Trulia

Pictures

Scope of work

Price: $54,500

Rehab: $28,000

Carrying Costs: $1,000

Closing Costs: $2,000

Total Turnkey Price: $85,500

ARV: $90,000

Rental Projections

Monthly Rent: $1000

Taxes: $129

Management: $80

Vacancy Reserve: $50

Insurance: $89

Maintenance Reserve: $50

Net: $602

Monthly x 12: $7,224

Strictly Cash on Cash ROI: 8.76%

Financed/Refinanced 75%

Down Payment: $20,625

Mortgage Interest Rate: 5%

Mortgage Amortization: 25

Mortgage Monthly Payment: $361.72

Net Cash Flow Less Mortgage: $240.24

Net Net x 12: $2,883

Financed Cash on Cash ROI: 13.98%

Comps:

3025 Davenport Ave Dav Sold $82,900 1/16 (95.51)

2 bed/ 1 bath 868 sqft

1 story frame built 1940

2 car garage/ basement

.6 miles away

2961 Farnam st Sold $89,900 12/15 (84.02)

2 bed/ 1 bath 1070 sqft

1 story frame built 1920

2 car garage/ basement

.3 miles away

1104 E Dover Ct Dav Sold $104,750 12/15 (87.29)

2 bed/ 1 bath 1200 sqft

1 story frame built 1920

1 car garage/ basement/fireplace/porch

1 mile away

Comps on a Map:

Notes and Disclosures: The ARV (After Repair Value) is based on a broker's and/or Realtor's price opinion. The broker and/or Realtor is not an appraiser, and does not claim to be an appraiser. We are real estate investment service entities. We have provided the information within this brochure for the benefit of investors. Investors are encouraged to verify all estimations independently. We assume no liability, expressed or implied, for the accuracy of our estimations. We do not give authority, expressed or implied, to the recipient of this information to enter onto this property.