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)