PRICE CORRECTED
Here is the long awaited 31 door rental package.
The numbers are:
| Pricing | |
| Gross Monthly Income (projected) | $ 17,225 |
| Monthly Vacancy deduction of 10% | $ 1,723 |
| Monthly Maintenance deduction of 10% | $ 1,723 |
| Monthly Management (in place at 8%) | $ 1,378 |
| Additional Expenses | $ 1,216 |
| Net Monthly Income | $ 11,186 |
| Net Rent Multiplier | 80 |
| Multiplied rent | $ 894,880 |
| Needed Repairs | $ 85,000 |
| Asking Price | $ 809,880 |
| Financial Scenario | |
| Purchase Price | $ 809,880 |
| 20% down | $ 161,976 |
| Financing Required | $ 647,904 |
| Capital Required to fund purchase and rehab | $ 271,272 |
| Monthly P&I on 7% 15 yr. note | $ 5,824 |
| Monthly Taxes | $ 2,623 |
| Monthly Insurance | $ 506 |
| Monthly Cash Flow | $ 2,234 |
| Annual Cash on Cash Return | 9.88% |
| After Vacancy, Maintenance and Management | |
| Monthly Expenses on Duplexes and Lots | |
| Monthly Duplex Rental Fees | $ 36 |
| ~$2 per door (City – billed annually) | |
| Water Bill Average | $ 540 |
| ~ $30/mo. /door | |
| Lawn Service for duplexes and lots | $ 295 |
| Electric | $ 45 |
| Trash Removal | $ 300 |
| $ 1,216 | |
| Other Pricing | |
| Duplexes and Land Only | $ 373,040 |
| SFR Only | $ 502,500 |
| $ 875,540 | |
Here is a spreadsheet of the entire package. If you are interested in the specifics, please email me. There is an interesting play on the 13 contiguous lots that equals three acres of MFR zoned land. Here is the platmap. It is zoned MF14 according to the City of Arlington.
Below you will find plenty of pictures!
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