222 9th St NW Cedar Rapids, IA 52405

This 5 bedroom / 2.5 bathroom rental makes sense for any rental investor, even in today's changing real estate market. A perfect blend of tranquility and urban convenience, and an amazing BRRRR opportunity!

Property will be Vacant at closing, contact Dispo Manager for walkthrough.

Deal Takeaways:

Good for an investor who wants an easy flip

Lots of equity built into the deal

Multiple exit strategies, including wholetail, flip, or buy and hold.

Financials:

ARV: $185,000

Purchase Price: $122,570

Profit Details:

$185,000 ARV

(*) 94% for sale commissions

(-) $122,570 purchase price

(-) $10,000 rehab budget

(-) $5,000 closing / holding cost

(=) $36,330 profit

Rental Profit Details:

$1,425 monthly current rent

(-) $211 monthly tax

(-) $110 monthly insurance

(-) $140 property management

(-) $140 allocation for repairs, vacancy, etc

(=) $824 net monthly cash flow

Property Details:

1895 Year Build

1,510 Home Square Feet

5,663 Square Feet Lot Size

September 29th, 2023 Closing

No known major repairs needed

Plumbing and Electrical have been updated

The roof was replaced in 2011 and the windows were all replaced in 2010 as well

The water heater, furnace and central air unit were replaced in 2008