TITLE:
3BR/2BA -1850 sqft - Charleston, SC
CONTROL:
Owner
VALUE:
$360,000
LOAN:
$50,000
EQUITY:
$310,000
TYPE:
Homes/Condos
HAVE:
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: >9%
Open to JV partnership
Bankable to $2M w/o partner
WEBSITE URL:
ADDRESS:
306 Seneca River Dr, Summerville, South Carolina
BENEFITS TO NEW OWNER:
- Can lease and buy back the property or create a note against it.
- Can provide Free & Clear.
OTHER FILES:
GROSS SCHEDULED INCOME:
$23,040 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$23,040
EXPENSES:
$6,208
NOI:
$16,832
DEBT SERVICE:
$2,200
CASH FLOW:
$14,632
CAP RATE:
4.68%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$53,000
$1,411
4%
05/30/2031
No
BENEFITS SOUGHT:
Move into a larger deal.
Increase return on equity.
CAN ADD:
$200k cash
$120k education IRA cash
$500k equity in SFH
REMARKS:
Desirable neighborhood. Houses see in about 30 days.
COUNSELOR:
Klaus Pless
DHP Real Estate
2123 Old Spartanburg Rd, Suite 184
Greer, South Carolina, 29650
