Property Need: Property under $250K, south between Buda and San Marcos, minimal maintenance, cash flow above $100 per month, and greater than 8% return with no appreciation.
Subject Property: 1-Story home in Kyle, great access to I-35, 3 bedrooms, 2 bathrooms, turn-key, 1,207 SqFt.
- List Price: $184,900
- Lease: $1,500 per month
- Taxes: $3,812
- No HOA
- Down Payment: 25%
- Projected Hold Period: 5 Years
- Total Cash Contributions by Investor: $48,777.93
We found this turn-key property in a Kyle neighborhood. The home was recently upgraded with new interior and exterior paint, new tile, new carpets in the bedrooms, new light fixtures, new ceiling fans in every room, new faucets in the bathrooms and kitchen, new toilets, new smoke alarms, new exterior steel panel glass door, and updated landscaping. The home was purchased at list price with a brand-new roof paid for by the Seller during the contract period. Maintenance of this property into the future will be very minimal.
The home will available for lease within four days of the Seller moving out of the property. This quick turnaround will poise this investor to possibly begin receiving lease income on the property prior to making his first mortgage payment.
The investor’s projected return is greater than 19% with more than $235 per month in cash flow.
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