Deal Analysis: Rooming House with Lots of Cashflow and a Decent Flip Too!

Here is a deal analysis of one of the better Rooming Houses I've found in the city. This one is in Hanlon Lake and is on the West side of Baltimore City. This one slipped right through my fingers as I offered a no-contingency, $10,000 over asking price offer and still lost the deal at the last minute all on the 2nd day of it being on market! Talk about a fantastic deal!!!

Here are the numbers you need:
AQUISITION
Stabilized Value $325,000.00
Purchase Price $150,000.00
Interest Rate 5.25%
Years of Mortgage 30
Leverage 75.00%
Vacancy Factor 5.00%
Tax Assessed Value $273,400.00
Prop Tax Rate 0.023
Hold Period (in months) 6

PURCHASE COSTS
Title costs (inv rate) $900.00
Lender fees (not points) $1,350.00
Title insurance lender $1,200.00
Transfer and Rec $0.00
Title insurance owners $1,200.00
Misc fees $800.00
Total Purchase Costs $5,450.00

EXPENSES (yearly)
Property Taxes $6,900.00
Long term insurance $1,500
Maintenance $2,400
Utilities (Water, sewer, lead renewals, etc) $8,400
Condo Fee $0
Leasing Commissions $0
Property Management $3,160
TOTAL $22,360

Debt Service: $16,152 (yearly)

CONSTRUCTION
01 General Conditions $3,000.00
02 Existing Conditions $2,500.00
03 Concrete $0.00
04 Masonry $0.00
05 Metals $0.00
06 Wood, Plastics and Composites $11,287.60
07 Thermal & Moisture Protection $1,500.00
08 Openings $8,650.00
09 Finishes $32,821.00
10 Specialties $0.00
11 Appliances $3,250.00
12 Furnishings $7,670.00
22 Plumbing $7,500.00
23 HVAC $9,000.00
26 Electrical $3,500.00
31 Earthwork $0.00
32 Exterior Improvements $2,000.00
33 Contingency $10,000.00
Total Hard Costs $102,678.60

PERFORMANCE
DSCR 2.07
FCF per month $1,446
Cash-On-Cash 47.20%

For Emails, Mentorship questions, and Private Lending, contact me at:
[email protected]

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