Hello Everyone!
I hope y'all had a nice weekend and enjoyed the Super Bowl.
I currently have a house for sale on Bewick right near TCU. It is currently leased out to students until May 31, 2015. Here are the numbers for the house:
3/2/0
1129 sqft per tax rolls
1947 Year Build
Yearly Taxes 2969
Price: $150,000
Current Rent:$1500/m
Current Cash Flow Estimate: $658/month
Est as is Appraisal amount: 160-165k
Cap = 9.854%
Cash on Cash ROI = 26.32%*
*Cash on Cash ROI is derived by taking the monthly rent, subtracting mortgage monthly payment, subtracting 1/12th of yearly taxes, subtracting 1/12th of yearly prop insurance, (at this point you have expected monthly cash flow) multiplying by 12, and dividing by mortgage down payment.
In my estimated numbers caps are derived by taking the monthly rent multiplied by 12, subtracting yearly taxes and property insurance (roughly 250) and dividing by total investment (mortgage amount + money down on house).
If you are interested, please shoot me an email or give me a call. I will be more than happy to send over comps and pics!
Regards,
Ross Schneider
214-766-8133
Ross@txgents.com
