TITLE:
3Br/2Ba SFH - 1500 sqft - Charleston, SC
CONTROL:
Owner
VALUE:
$315,000
LOAN:
$83,000
EQUITY:
$232,000
TYPE:
Homes/Condos
HAVE:
1) Currently rented single-family home. 2) Fair market rent: $1,800/mo. Lease end: 06/30/2024.
ADDRESS:
204 Savannah River Dr, Summerville, South Carolina
BENEFITS TO NEW OWNER:
1) Can pay off the mortgage. 2) Can provide property F&C. 3) Can buy back. 4) Average days on the market: appr 30 days. 5)
Desirable neighborhood.
Front View
OTHER FILES:
GROSS SCHEDULED INCOME:
$215,600 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$215,600
EXPENSES:
$3,816
NOI:
$211,784
DEBT SERVICE:
$6,000
CASH FLOW:
$205,784
CAP RATE:
67.23%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$83,000
$1,333
4%
03/31/2043
No
BENEFITS SOUGHT:
Use the equity to transfer into a larger deal to improve return.
CAN ADD:
1) $200,000 in cash. 2) $500,000 in equity in two additional SFH located in the Charleston, SC area.
Owner can provide properties free and clear. 3) $160,000 note that pays 12% interest only.
REMARKS:
WANT
Target property: $0.5M to $3M
Geographic parameters: SC, NC, GA, FL
Type: Flexible (e.g. MHP, office, apartments, etc.)
Target return: 15% ROI
Target CAP rate: >8%
Open to JV partnership
Bankable to $1.5M - $2M w/o partner
Bankable to > $1.5M - $2M
COUNSELOR:
Klaus Pless
DHP Real Estate
2123 Old Spartanburg Rd, Suite 184
Greer, South Carolina, 29650
