unicorn deal here. these are selling $40k below market value, off market, fully tenant occupied, cashflow positive. purchase a single quad or package them together.
we're very excited to bring this to SRC clients!
Killeen Quadplex $3,700/mo Rent | $385K
Asset Quality: B | Neighborhood Quality: B | Year Built: 2004
4307 Jeff Scott Dr: One unit held open for showings can be leased and delivered 100% occupied prior to closing. Recent Killeen quadplex comps support a conservative value of at least $415,000, with nearby sales at $412,500, $425,000, $435,000 and multiple 24-month sales clustered from $400,000 to $435,000. At a $385,000 target, you are stepping into $30,000 of built-in equity while buying an asset that will cash flow from day one. Jeff Scott also has a new roof with a transferable warranty, and all security deposits and prorated rents convey to the buyer at closing. This is a strong leapfrog deal: buy below value, lock in occupancy, stabilize rents, and let the equity position plus cashflow grow.
Sale Price: | $ 385,000 | Cap Rate | 7.27% |
Cash Needed (25% down + cc) | $ 100,100 | Cash on Cash | 5.52% |
P&L | Monthly | Annual | |
Projected Income | $ 3,700 | $ 44,400 | |
Mortgage PMT (6.75% Int) | $ 1,873 | $ 22,474 | |
Taxes | $ 642 | $ 7,700 | |
Insurance | $ 225 | $ 2,700 | |
Vacancy Reserve | $ - | $ - | |
Operating Expenses (Maintenance Management Utilities Landscaping HOA) | $ 500 | $ 6,000 | |
NOI (Income less Taxes, Insurance, Vacancy, OpEx) | $ 2,333 | $ 28,000 | |
Cashflow | $ 461 | $ 5,526 |
Killeen Quadplex $3,700/mo Rent | $375K
Asset Quality: B | Neighborhood Quality: B | Year Built: 2003
4402 Mattie Dr: One unit held open for showings can be leased and delivered 100% occupied prior to closing. Recent Killeen quadplex comps support a conservative value of at least $415,000, with nearby sales at $412,500, $425,000, $435,000 and multiple 24-month sales clustered from $400,000 to $435,000. At a $375,000 target, you are buying $40,000 below conservative value with immediate income, full occupancy at delivery, and no need to force appreciation through a major renovation. All security deposits and prorated rents convey to the buyer at closing.
Sale Price: | $ 375,000 | Cap Rate | 7.52% |
Cash Needed (25% down + cc) | $ 97,500 | Cash on Cash | 6.47% |
P&L | Monthly | Annual | |
Projected Income | $ 3,700 | $ 44,400 | |
Mortgage PMT (6.75% Int) | $ 1,824 | $ 21,890 | |
Taxes | $ 625 | $ 7,500 | |
Insurance | $ 225 | $ 2,700 | |
Vacancy Reserve | $ - | $ - | |
Operating Expenses (Maintenance Management Utilities Landscaping HOA) | $ 500 | $ 6,000 | |
NOI (Income less Taxes, Insurance, Vacancy, OpEx) | $ 2,350 | $ 28,200 | |
Cashflow | $ 526 | $ 6,310 |
Diligence Folder (images, rent roll, lease comps, sale comps)
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-Vic