11 UNIT SFR RENTAL HOMES IN DFW - ESTIMATED 10 % CASH ON CASH RETURN - 82% Occupied - Current NOI $96,266 - Offered at $1.397MM
For sale is a turn-key 11 rental package located in the DFW area. Most of these houses were built on slab foundations with brick veneer. On average these houses were built in the year 1968 with approximately 1,141 square feet in size. All but two properties are currently rented and producing positive cash-flow. All the properties have been rehabbed within the last one to two years and most are rented close to market rents – this is a good yield play deal for the rental investor that I just looking for cash-flow and some long term appreciation.
The properties are rented to screened tenants and are currently producing a gross rental income of $11,395 per month or $136,740 per year. After accounting for the operating expenses of approximately $38,254 per year, this portfolio has a current NOI of about $96,266 per year. With the estimated market rents for all properties at $12,150 per month, there is little opportunity to optimize the portfolio and improve the returns to increase the NOI to approximately $105,326 per year after some small rent increases.
The off market asking price for the entire 11-unit portfolio is $1,397,00. A buy and hold rental investor using commercial financing from 3L can estimate to make about $3,400 per month or $37,050 in annual positive cash-flow which translates to about an 10% return on a $369,800 out of pocket cash investment.
***BUYER PROTOCOL AND FINANCIAL SCENARIOS BELOW**