| RALEIGH-DURHAM INVESTMENT PROPERTY ALERT |
| |||
| www.tiffanyelder.com |
| |||
|
| |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| | |
| ||
| Photos are of interior and exterior of 1 unit |
| |||
| Hwy 98, |
| |||
| 4-4 unit renovated bldgs (16 units), All electric. 2/1, new roofs, fixtures, carpet, |
| |||
| appliances, vinyl and paint in most units. Transportation and shopping nearby! |
| |||
| | |
| ||
| Proforma Estimates: | |
| ||
| Purchase Price | $795,000.00 |
| ||
| % Down | 20% |
| ||
| Mortgage interest rate(blended rate if less than 20% down) | 7.70% |
| ||
| Amort.Period (years...if not interest only) | 25 |
| ||
| Monthly Gross Rents (if fully occupied) | $8,000.00 |
| ||
| Monthly Other Income | $0.00 |
| ||
| % Property Management | 8% |
| ||
| Annual HO Dues /Other Expenses | $1,080.00 |
| ||
| Annual Taxes (previous year actual) | $5,798.00 |
| ||
| Annual Insurance Estimate | $4,600.00 |
| ||
| Current occupancy | 0% |
| ||
| Interest only financing? (y/n) | n |
| ||
| | |
| ||
| MONTHLY INCOME: (assuming full occupancy) | |
| ||
| Rents | $8,000.00 |
| ||
| Other | $0.00 |
| ||
| TOTAL MONTHLY INCOME | $8,000.00 |
| ||
| | |
| ||
| MONTHLY EXPENSES: | |
| ||
| Mortgage Payment | $4,783.03 |
| ||
| Tax and Insurance | $866.50 |
| ||
| Property Management | $640.00 |
| ||
| Vacancy and Repair Allowance | $640.00 |
| ||
| Other (Dumpster fee and area lights) | $90.00 |
| ||
| TOTAL MONTHLY EXPENSES | $7,019.53 |
| ||
| | |
| ||
| ESTIMATED MONTHLY CASHFLOW | $980.47 |
| ||
| Year 1 Cash-On-Cash Return | 7.40% |
| ||
| Cap Rate (includes 8% vacancy and repair allowance) | 7.73% |
| ||
| | |
| ||
| If this property fits your investment criteria, contact Tiffany while it's still available! | ||||
| | | |||
| Tiffany Elder, MBA, Realtor | ||||
| Investment Consultant / Broker Associate | ||||
| Realty Executives Southpointe | ||||
| | ||||
| | | |||
| Notes: All information is assumed accurate but not guaranteed. | ||||
| Full due diligence is recommended before purchasing any investment property. | ||||
| Cashflow and returns are based on financing and assumptions listed above. | ||||
| Your financing for this property will depend on your creditworthiness. | ||||
| | ||||
| Rates shown are for illustrative purposes only and may differ from your financing options | ||||
| | | |||
Thursday, July 26, 2007
Raleigh-Durham Investment Property Alert - 16 apartment units- $795k
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment