N 10th St, St Joseph, MO 64501

Duplex: two 2bed/1bath units side-by-side, 2538 sq ft

 

About the project

An excellent BRRRR opportunity in a B-/C+ neighborhood. N 10th St in St Joseph is a side-by-side duplex property with two 2bd/1ba units of about 1270 sq ft each and off street parking. Each unit has the living room, dining room and kitchen on the main level, 2 beds and 1 bath on the upper level plus a full unfinished basement (utility room and extra storage).  This property will allow the investor to enjoy 15% equity after rehab.

Price:                              $80,000

Renovation:                  $55,000

Total All In:    $135,000

Rent:                                $1,400/mo

Property Mgmt (10%):   $140

Insurance:                       $67

Taxes:                               $40

Maintenance (5%):         $70

Vacancy (7%):                 $98

Total Expenses:              $415

NOI per month:              $985

Cap Rate:                         8.76%

GRM:                                 8.04

Comps*:                           $160,000

* Comps are NOT a guarantee, but an estimation of after repair value (ARV)