Purchase #5 (Units 17-20) - Fayetteville Quad

Cash Flow - $515/mo

 

My second purchase of 2020 followed the first - I found it out in Fayetteville, NC! This is a property that I'm incredibly excited about...not because of the property itself, though it will produce a good return, but because of the opportunity in the neighborhood!

The property itself is in pretty good condition, and each unit is a 2br/1.5ba around 875sqft. There were some repairs needed to the crawlspace as well as a few other minor items, but this will be a relatively stable property with stable cash flow!

PURCHASE DETAILS

List Price: $157,000

Purchase Price: $153,000

Closing Date: June 5, 2020

Source of Deal: Rea;tpr

Funding Source: Conventional

Size: 3,509 sqft

Estimated Rehab Cost: $3,000

Estimated ARV: $157,000

Bed/Bath: 8br/6ba (each)

 

FINAL DETAILS

Appraised Value: $157,000

Refi Date: N/A

Actual Rehab Cost: $2,500

Final Cash Left In: $45,000

Final Cash Flow: $515 ($2,100 rent)

Final COCROI: 14%

 

PICTURES

 

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