This 1,783 square foot home was built in 2008. In 2019, it was purchased by one of our investors for under the market value with extensive make-ready required. Our sister company NextGen
performed the renovation. In the few months since purchase, the home is already in an equity position of $26,000, or 13.9%. For Year 1, the home is earning a Front end return (CAP rate) of 7.15% for a total return percentage of 21.05%. After the first year, please be advised that the back end return will be around 3.5% per year for a total return percentage of 10.65%.