dallas2

This property is no longer available! Sold.

In honor of this week’s Dallas turnkey property webinar, here is an available Dallas property! If you haven’t seen the webinar and want to (so worth it), let me know and I’ll send you the replay link. These are insane. It is fully turnkey, meaning completely rehabbed with tenants and property management in place. The turnkey supplier has an excellent reputation (ask Jay Dao from the Testimonials!)

Dallas is a really interesting market right now. It’s one of the few really popular cities that is so hot for people moving there, houses are selling above asking price (even non-investment properties), and yet there are still profitable deals available! You won’t see as high of cap rates as you will in a lot of other cities, but the quality of the market and the properties far outdoes the numbers.

Location: Dallas, TX. Built In: 2000

Purchase price: $145,000 (not a foreclosure, normal sale)

Property info: 3 bedroom, 2 bathroom, 1,698square feet

Income

Monthly rent collected: $1,450

Expenses

Monthly expenses

Property taxes: $278.64

Insurance: $50

Property management fees: $116.00

Monthly expenses (conservatively estimated)

Vacancy (6%): $87.00

Repairs (6%): $87.00

Total Monthly Expenses- $618.64

Net Income = Income – Expenses =  $831.36 ($1005.36 with no vacancy or repairs)

 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 6.81%

Cash-on-cash return =

Depends on your leveraging.

 

Are you thinking the cap rate is lower than what you are interested in? Check out one of Ali’s articles from BiggerPockets that hits this exact topic!

The 2% Rule: Fact, Fiction, or Feasible?

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