Property details
Proforma Turnkey End Buyer
Purchase & Financing
| Purchase price | $399,000 |
| Closing costs | $3,990 |
| Down payment (25%) | $99,750 |
| Loan amount | $299,250 |
| Loan points | $5,985 |
| Interest rate | 6.00% |
| Loan term | 30 years |
| Total out of pocket | $109,725 |
Income & Expenses
| Monthly | Annual | |
|---|---|---|
| Gross rent | $7,583 | $90,996 |
| Vacancy | ($910) | ($10,920) |
| Property taxes | ($366) | ($4,389) |
| Insurance | ($200) | ($2,394) |
| Maintenance | ($400) | ($4,805) |
| Property management | ($1,001) | ($12,011) |
| Utilities | ($104) | ($1,250) |
| Net operating income | $3,456 | $41,477 |
| Mortgage (P&I) | ($1,794) | ($21,530) |
| Net cash flow | $1,662 | $19,948 |
View full proforma & projections
Projections are based on current rent, taxes, insurance and financing assumptions and are estimates only. Verify all figures independently before investing.
About this property
Co-Living PadSplit opportunity, remodel is currently being done, so if you put this under contract, we would wait for the renovation to be completed before closing. Professionally managed.
THESE GO UNDER CONTRACT QUICK SO ACT NOW!
This one is currently being rehabbed and will be turned into a 7 bedroom 6 bathroom property. Appraisal could come in around 370k, so be prepared to come to the table with a little extra cash if needed.
-PadSplit is an online platform with thousands of affordable, private rooms for rent. We connect people looking for an affordable place to live with property owners who have private rooms for rent.
-PadSplit was designed for longer-term stays for workers in the community with a minimum commitment of 12 weeks. In some cases, residents commit to longer stays of six to 12 months.
Living in a PadSplit is different from traditional rentals. Members only pay one bill each week, and it covers a private furnished room, all utilities, and free credit reporting. To be approved, you don’t need a minimum credit score, and you won’t have to pay a big security deposit.