Subject Property and Comparables
|#||Address||Beds/Baths||Sq. ft.||Last Sale Date||Last Sale Price|
JV Partner or 2nd DoT needed.
One hour-ish from DC
Purchase Price – 1,008,000
Current NOI – 90,443
ARV NOI – 115,829
- Both account for 10% vacancy, 10% cap ex, and 7.5% management.
- All units are currently leased, majority are on month to month
Value Add – Raise rents and fix minor electrical/roofing issues
Valued at an 8 cap, current value of $1,130,537
- Buying with $122,000 in equity
Increased value 115,829 (ARV NOI) / .08 (cap rate) = $1,447,862
300k for 30%
Bryden – Bryden@Courthouse.Capital