quick771
02-11-2008, 03:47 AM
3402 Hadley
Houston, TX 77004
$125,000
These are actual monthly numbers:
===================
Rental income: 3050
Gas: 200
Insurance: 125
Taxes: 150
Vacancy and collection: 152.50 (projected estimate at 5%)
Management: 152.50 (projected estimate at 5%)
Repairs and maintenance: 305 (projected estimate at 10%)
Monthly Net Operating Income: 1965
Expenses expressed as a percentage of gross rents: 36%
HUGE UPSIDE POTENTIAL
Clean up, reposition, raise rents. Provide security fence w/access code, market to U of H students
Yearly Net Operating Income: $23,580
Cap rate: 16.8
Hard Money Approved
Estimated Debt Service with 20% down @ 12% interest only $1000/mo
Debt Coverage Ratio: 1.96
CASH ON CASH: 46%
*These numbers do not take into account closing costs which may vary depening on your lender. The numbers do not take into account rehab, or future rent increases.
The repair vacancy and management numbers are just industry averages, you may be able to do better. The building is occupied and stays occupied, thus the rents are probably too low. Upside potential for cosmetic repairs and increased rent, and continued growth and revitalization in the area prove strong.
Email me for pictures
Quick771@gmail.com
Houston, TX 77004
$125,000
These are actual monthly numbers:
===================
Rental income: 3050
Gas: 200
Insurance: 125
Taxes: 150
Vacancy and collection: 152.50 (projected estimate at 5%)
Management: 152.50 (projected estimate at 5%)
Repairs and maintenance: 305 (projected estimate at 10%)
Monthly Net Operating Income: 1965
Expenses expressed as a percentage of gross rents: 36%
HUGE UPSIDE POTENTIAL
Clean up, reposition, raise rents. Provide security fence w/access code, market to U of H students
Yearly Net Operating Income: $23,580
Cap rate: 16.8
Hard Money Approved
Estimated Debt Service with 20% down @ 12% interest only $1000/mo
Debt Coverage Ratio: 1.96
CASH ON CASH: 46%
*These numbers do not take into account closing costs which may vary depening on your lender. The numbers do not take into account rehab, or future rent increases.
The repair vacancy and management numbers are just industry averages, you may be able to do better. The building is occupied and stays occupied, thus the rents are probably too low. Upside potential for cosmetic repairs and increased rent, and continued growth and revitalization in the area prove strong.
Email me for pictures
Quick771@gmail.com