2660 Gordon St, Mulberry FL 33860

2660 Gordon St, Mulberry, FL 33860

Singlefamily: 3 bedrooms , 2 bathrooms

Year built: 1973, Size: 1080 SF

Investment strategy: Rental Property

Purchase Price$ 150,000

Rent$ 1,780/mo

Monthly Cash Flow$ 890

Cash on Cash Return6.33 %

Financial Analysis

Cash on Cash Return	6.33 %
Internal Rate of Return (IRR)	7.84 %
Capitalization Rate	6.28 %
Gross Rent Multiplier (GRM)	7.96
Debt-coverage Ratio (DCR)	0.00
Operating Expense Ratio (OER)	50.00 %
After Repair Value	$ 170,000
Profit/Equity From Rehab	$ 1,250

Financial Breakdown

Purchase Price	$ 150,000
Purchase Costs	$ 3,750
Repair/Construction Costs	$ 15,000
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 168,750
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 168,750
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 0
Cash During Rehab Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction. Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction.	$ 168,750

Operating Analysis

Rent	$ 1,780/mo
Gross Operating Income (GOI)	$ 21,360
Total Expenses	$ 10,680
Net Operating Income (NOI)	$ 10,680
Annual Debt Service	$ 0
Cash Flow Before Taxes (CFBT)	$ 10,680
Income Tax Liability	$ 1,579
Cash Flow After Taxes (CFAT)	$ 9,101

This 3 bedroom 2 bathroom + bonus room home just screams Welcome Home! a storage shed, added and it can be perfect to store all your belongings, or with some handyman touch it can be transformed into a living area or in a law suite! So much potential! Great location and close to everything! This property offers easy access to Lakeland, Mulberry and Valrico/Brandon areas. No HOA with a fully fenced large backyard is perfect for your family to enjoy. Don't miss this opportunity! tenant occupied (DO NOT disturb)

Purchase Price	$ 150,000
Address	2660 Gordon St , Mulberry, 33860, FL
MLS^® #	O5950362
Listing Agent	Steven Koleno
Listing Broker	beycome.com
Year Built	1973
Type	Singlefamily
Size	1080 SF
Bedrooms	3
Bathrooms	2

Property History

Date	Price	Change	Event
4/21/2000
6/3/1994

2660 Gordon St Mulberry, FL 33860

$ 170,000

Property ARV
Singlefamily

Bldg type
1,080

SqFt
$ 157

per SqFt
3

Beds
2

Baths

#	Property address	Distance	Beds	Baths	SqFt	Bldg type	Date sold	Sale price	$/SqFt
1	2610 Gordon St	0.0mi	2	2	1,280	single_family	3/30/2021	$ 190,000	$ 148
2	2705 Gordon St	0.0mi	3	1.5	1,373	single_family	2/25/2021	$ 193,000	$ 141
3	2785 Howard St	0.1mi	3	2	1,306	single_family	4/28/2021	$ 205,000	$ 157
4	2785 Willow Wood Dr	0.2mi	3	2	1,107	single_family	4/20/2021	$ 191,000	$ 173
5	3985 Eddie Dr	0.8mi	3	2	1,322	single_family	5/10/2021	$ 191,500	$ 145
Average:								$ 194,100	$ 153

Annual Property Operating Data

Incomes		% of GOI
Gross Scheduled Income Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents. Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents.	$ 21,360
Total Gross Income	$ 21,360
Vacancy loss Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants. Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants.	$ 0
Gross Operating Income Gross Operating Income (GOI) An actual income which is expected to be collected in the property. Gross Operating Income (GOI) An actual income which is expected to be collected in the property.	$ 21,360	100.00 %
Expenses Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation). Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation).
50% rule	$ 10,680	50.00 %
Total Expenses	$ 10,680	50.00 %
Net Operating Income Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses. Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses.	$ 10,680	50.00 %

Cash Flow (Year 1)

Net Operating Income	$ 10,680	50.00 %
Annual Debt Service	$ 0	0.00 %
Cash Flow Before Taxes (CFBT) Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 10,680	50.00 %
Income Tax Liability	$ 1,579	7.39 %
Cash Flow After Taxes (CFAT) Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 9,101	42.61 %

Operating Ratios

Operating Expense Ratio Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI). Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI).	50.00 %
Break-Even Ratio Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less. Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less.	50.00 %

Financial Measures

Net Present Value Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog. Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog.	$ 21,781
Internal Rate of Return Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero. Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero.	7.84 %
Profitability Index Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0 Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0	1.13
Annual Depreciation	$ 4,364

Holding period of 5 years and discount rate of 5.00% were used for calculation of NPV and IRR. The rest of the financial measures are for the 1st year only and therefore don't provide such an exact information.

Investment Return Ratios

Cash on Cash Return Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money. Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money.	6.33 %
Return on Investment Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year. Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year.	9.00 %
Capitalization Rate Capitalization Rate Calculated as ratio of the net operating income and the value of the property. Capitalization Rate Calculated as ratio of the net operating income and the value of the property.	6.28 %
Gross Rental Yield Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment. Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment.	14.24 %
Gross Rent Multiplier Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income. Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income.	7.96

There is no financing selected in this deal.

This chart shows the process of accumulation of investor's equity. There is some equity created right at the beginning with the rehab/construction and later investor's equity is rising by paying off the principal of the loan and also by appreciation over the years. All the green parts is the cummulative equity belonging to the investor and the red part belongs to the lender.

Year	0	1	2	3	4	5
Operational Analysis
Gross Scheduled Income	0	21,360	21,787	22,223	22,667	23,121
Vacancy Loss	0	0	0	0	0	0
Gross Operating Income	0	21,360	21,787	22,223	22,667	23,121
Expenses	0	10,680	10,894	11,111	11,334	11,560
Net Operating Income	0	10,680	10,894	11,111	11,334	11,560
Cash Flow
Repairs/Construction	15,000	0	0	0	0	0
Cash Flow Before Taxes	-168,750	10,680	10,894	11,111	11,334	11,560
Depreciation	0	4,364	4,364	4,364	4,364	4,364
Taxes	0	1,579	1,632	1,687	1,742	1,799
Cash Flow After Taxes	-168,750	9,101	9,261	9,425	9,591	9,761

Note: All amounts in the table above are in $

Property Report: 2660 Gordon St, Mulberry RENTAL

Property Report :

2660 Gordon St, Mulberry, FL 33860

Executive Summary