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Updated over 5 years ago on . Most recent reply
Analyzing deals in Jax
Hey folks, I've been practicing analyzing deals, and I went through a few in Jacksonville. I found something interesting, and I'm almost positive there must be a crime issue or other external factor I'm not considering.
There's a listing on MLS, 83 days old. 115k for a Duplex, 3/1 each side. Both units currently rented month-to-month at $750/mo. Math works out to 21% Cash-on-cash return (see work below).
It's in 32209, so it looks like it has a high crime rate, and there's bars on the windows in the pictures. Curious if it's solely due to crime that it's being avoided, and how crime risk factors into folks' calculations?
| Rent | $1,500.00 |
| Laundry | |
| Storage | |
| Misc | |
| Total | $1,500.00 |
| Tax | $75.50 |
| Insurance | $43.00 |
| Electric | $0.00 |
| Gas | $0.00 |
| Water | $0.00 |
| Vacancy | $75.00 |
| Repairs | $75.00 |
| CapEx | $75.00 |
| Property Management | $150.00 |
| Mortgage | $429.00 |
| Total | $922.50 |
| Monthly Cash Flow | $577.50 |
| List Price | $115,000.00 |
| Purchase Price | $115,000.00 |
| Down Payment | $23,000.00 |
| Closing Costs | $5,000.00 |
| Rehab budget | $5,000.00 |
| Miscellaneous other | $0.00 |
| Total Investment | $33,000.00 |
| Cash on Cash Return | 21.00% |