Tel: (571) 306-0759

Email: kevin@thebarberagroup.com

Address: 14526 Lee Road, Suite 100, Chantilly, VA 20151

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Investment Analysis: 1415 Northgate Sq Reston, VA

September 28, 2016

On Thursday last week, my Meet Up Group and I viewed a couple bank owned properties. 1415 Northgate Sq in Reston, VA is a 3bd 2bth that was originally listed for $242,500 and has been reduced to $218,000. Other comparable 3bd 2bths sold this year went for $264k (August) and $280k (June).

 

The following is a quick investment analysis that I use to determine whether or not to an investment would be a good fit in my investment portfolio. Hopefully this can help you in your investment property search!

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Monthly Rent/sqft in Northgate is $1.63. This apartment is 1,234 sqft. Estimated Monthly Rent = approx. $1,950
Monthly Condo Fee = $415
Annual Reston HOA = $675 --- $56.25/month
Estimated repairs = $7,000 --- $583.33/month (for the first year)
Assumptions: No financing, close price = $210k

First Year estimated Cash flow
Rent= $1,950
Expenses = $1,054.58
Monthly Profit = $895.42
Annual Profit = $10,745.04
Return on Equity/Cap Rate = 5.1%

2nd Year Estimated Cash flow 
Rent= $2,000 (2.5% increase)
Expenses = $485.38 (no renovation cost, increase in Condo/HOA fee by 3%)
Monthly Profit = $1,514.62
Annual Profit = $18,175.44
Return on Equity/Cap Rate = 8.7%

 

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