303 and 305 Fleetwood Dr., Waynesville, MO

This property is a duplex. Unit 303 is about 1,100 sqft, 3 bedrooms, 1 bath, with a large living room / dining area and a fireplace. Unit 305 is about 700 sqft, 2 bedrooms, 1 bath. It was built in 1945.

We purchased the property in December 2019 and inherited the tenant in the smaller unit, keeping his month-to-month lease. We rehabbed the larger unit completely, only using contractors for plumbing and HVAC. The smaller unit received new vinyl windows and a new steel backdoor. The rest of the rehab was DIY and took about a year to complete.

Deal Breakdown
Purchase Price: $43,000
Total Cash Invested (rehab, holding costs, down payment): $25,399
Initial Bank Purchase Loan Amount: $34,400
After Rehab Appraisal Value: $117,500
Cash-out Refinance Loan Amount (80% LTV) 4.125% 30yrs: $94,000
Cash back: $59,600
Total cash left in the deal: $0
Cash-on-Cash Return: Infinite
Cash Flow: $474/month

Monthly Breakdown
Gross Scheduled Rent: $1,125
Vacancy: $93
Operating Expenses: $102
Debt Service: $456
Cash Flow: $474

Operating Expenses: $102
   Taxes: $42
   Insurance: $60
   Capex (0%): I keep $5,000 in reserves for each door
   Maintenance/Repairs (0%): I keep $5,000 in reserves for each door