Thornton Single Family Rental Project

This home is under contract and is planned to close by late January, 2008.   It is a 3bed/ 1.5 Bath home that is dated and in need of a refresh.  Current finished square footage is approx. 1400 sq. ft.     Our puchase price for this home is $138k. 

Market comps support an after repair value (ARV) price of  approx. $190k.  Our goal is to rehab/refresh the interior to rental quality status, re-appraise at the ARV value, then refinance and extract the rehab/refresh investment. Once refreshed, this home will meet our goal of  Clean, Safe and Functional.   This will offer maximum tenant appeal and will support a monthly rental income of $1300.  

$1300/month rental income will provide positive cash flow of approx. $125/month once the home completed and occupied.

Planned Improvements:  Add 4th BR  and bath/shower in basment,  new paint and flooring througout, new  kitchen appliances and lighting fixtures. New finished square footage will increase to approx. 1800 sq. ft  

Rehab Budget: approx $12k

Carry Costs: approx. $3k

Project Timline: 3 months 

Project Timeline:  Approx. 3 months 

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