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05-25-2008, 08:03 PM #1
Renter
- Join Date
- May 2008
- Location
- Oakland, CA
- Posts
- 1
Turnkey Cash Flow SFR Opportunity in Jackson, MS: 14.3% Cap!
INVESTMENT HIGHLIGHTS
Extraordinary 2-yr. Incentives from motivated seller yield:
- 41% Cash-on-Cash Return avg. over 1st 2 years
- 14.3% Cap Rate
- 5.2% GRM
- 2.38 DSCR
- $560-$650/month positive cash flow (depending on mortgage terms)
- $1336/mo. gross income (easily passes “1% Rule”)
- Very low entry: $17,500 approx. total acquisition cost (on 20% down)
- Price: $84,000
- Location: Jackson, MS
- 3 BR/1 BA SFR, 1200 sq. ft., on corner lot of nice, stable, tree-lined neighborhood
- Extensive rehab & upgrade just completed
- Recently appraised at $84,000 (available upon request)
- Currently leased (through 12/08) & under highly qualified professional property management (leasing history demonstrates low vacancy rate)
DESCRIPTION
- Located on the north side of Jackson, MS (forecast 17% job growth over the next 10 years; 38% of residents are renters; home of State Capitol)
- 1951 construction; home includes 1-car attached garage
- Minimal landscaping upgrades would enhance this property
- Currently insured for 113% of appraised value
- Appraisal & insurance documentation available upon request
TERMS
- FSBO
- 2% Seller Closing Cost Credit
- $636/mo. Seller Subsidy for 24 months
- One-Year Home Warranty included
Last edited by Chief Tutor; 05-27-2008 at 02:46 PM. Reason: NO Phone Numbers and put email in your profile
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