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4 Bed SFH Asking $64k Below Appraised Value with Recent $80k Renovation

2202 Grove Dr, Round Rock
ROI
18.57% IRR
Strategy
Long Term Rental
4 bed SFH asking $64k below appraised value with recent $80k renovation. $2410/mo rental rate covers PITI payment while walking into equity in an appreciating area. Off-market 1,667 sq ft 4 bed, 2 bath two story built in 1986. $80k full rehab completed in 2022. $2410/mo rent majority paid by Housing Authority of City of Austin, tenant since 2022 with lease expiring 11/30/23. Recently appraised for $413,743.

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4 Bed SFH Asking $64k Below Appraised Value with Recent $80k Renovation

Listed 12/05/2023

2202 Grove Dr, Round Rock

Purchase Price:$350,000

Cash Outlay:$94,500

Cashflow:$334/mo

Cap Rate:5.05%

IRR:18.57%

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