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From: Riley Ringgold <rlringgold@gmail.com>
Date: Wed, Jul 30, 2025, 8:36 AM
Subject: Re: 817 TYLER INFO
To: mcre13@gmail.com <mcre13@gmail.com>
Exciting news — 817 Tyler has just been reduced from $1.2M to $995,000.
This 24-unit property (14 two-beds, 10 one-beds) is currently generating $14,005/month in rent — averaging just $666 per door. But there's real upside here:
Rent Growth Potential
The area supports stronger rents. If the 14 two-bed units were rented at $800 and the 10 one-beds at $700, gross rents could climb to $18,200/month, or $218,400 annually — a 30% increase over current collections.
Utility Expense Reduction
Landlord-paid utilities are averaging $4,900/month. That's over $58,000 annually.
With utility separation or billing back to tenants, there's an opportunity to dramatically improve NOI by shifting utility responsibility to tenants — a common strategy for similar assets.
Cap Rate Breakdown
At current performance, this property already operates at an 8.08% cap rate.
Under pro forma rents and reduced utility burden, the cap rate could push above 13%, making this an ideal value-add opportunity.
I've also included the Rent Rolls and Trailing 12s for a full financial picture. Let me know if you'd like to schedule a tour or dive deeper into the numbers.
For your review, I've attached:
Rent Roll
Trailing 12 Financials
Walk Through Video -https://youtu.be/b_T02TkHVbo
Let me know if you'd like to schedule a tour or run deeper numbers. This is a strong opportunity for the right investor.
Thanks for calling Henry!
Let me know what other questions you might have.
MLS LINK: https://s.paragonrels.com/goto/Z0_HAlZlN_W
Youtube video walkthrough: https://youtu.be/b_T02TkHVbo--
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