Looking for a Partner for a SFH deal in the DC area

[Chris Mylan]

Looking for a Partner for a SFH deal in the Columbia Heights area of Washington, DC

This is an incredible investment opportunity in an area with excellent rent history and desirability. I have a similar property blocks away that does very well and prefer to find a financial partner for partial funding purposes. I have the ability to completely manage the property. Extremely positive appreciation potential, which is not factored in the below numbers.

By my metrics, it would be best utilized as long term rental, but has much potential as a quick flip, or a total gut and conversion – will be very profitable with any strategy. The basement can also be converted into a short-term/ AirBnB rental, for which I currently have experience in managing two separate properties. This could add ~$2,000 per month to the total rent roll, which would elevate the return percentages significantly.

Here are the numbers (assuming 20 percent down, 30 year amortized at 4 percent):

Purchase Price: $675,000

Estimated Repair Costs (to immediately attract desirable renters): $5,000 - $15,000

Estimated After Repair Value: $730,000

Estimated Monthly Income from Rent: $4,800 (conservative)

Estimated Monthly Expenses: $3,342.54 (detailed below)

• Monthly P&I: $2,578
• Vacancy: $96
• CapEx: $144
• Repairs: $96
• Insurance: $100
• Property Taxes: $328.50
• No initial management fees as I would be self-managing under our partner agreement

Estimated Monthly Cashflow: $1,457.46

NOI: $48,426

Cash on Cash ROI: 10.29 percent

Annualized total return of 17 percent after year three

Please message for more details and/or additional metrics. I look forward to speaking with all who inquire.