N 25th St, St Joseph, MO 64506
triplex: three 2bed/1bath units, 3700 sq ft
About the project
An excellent BRRRR opportunity in an A-/B+ neighborhood. N 25th St in St Joseph is a large triplex property with three 2bd/1ba units totaling an impressive 3,700 sq ft. All three units have separate entrances and there is a detached garage that can either be assigned to tenants or rented separately (it currently is rented out at $100 per month which is not included in the proforma). The property currently has window unit A/C’s, but central A/C may be installed for an additional charge of $10K.
Price: $170,000
Renovation: $65,000
Total All In: $235,000
Rent: $2,500/mo
Property Mgmt (10%): $250
Insurance: $75
Taxes: $85
Maintenance (5%): $125
Vacancy (7%): $175
Total Expenses: $710
NOI per month: $1,790
Cap Rate: 9.14%
GRM: 7.83
Comps*: $272,000
* Comps are NOT a guarantee, but an estimation of after repair value (ARV)