820 E 4th St, Mishawaka, IN


$ 140,000 - Buy & Hold

3.0 bd | 2.0 ba | 1,504 sqft | 1898 | $ 1,400 Rent

IRR
26.20 %
Yield-on-Cost
13.18 %
Cash on Cash
18.31 %
Net Monthly Cashflow
$761

Description

Fantastic cash flow 3/2 with new flooring, paint, lighting, kitchen, two newly renovated bathrooms, many new windows. Property is rented for $1,400 per month and has a fenced yard and huge storage building.


Buy & Hold Analysis

  • IRR: 26.20 %
  • Net Cashflow: $ 4,932
  • Rehab Est: $ 37,000
  • Cap Rate: 7.94 %
  • Monthly Rent: $ 1,400
  • ARV: $ 145,000
  • Cash on Cash: 13.17 %
  • Taxes: $ 1,450

Financial Analysis

  • Loan Amnt: $ 36,000
  • All-in Cost: $ 85,840
  • Debt Coverage Ratio: 7.94 %
  • Total Out of Pocket: $ 49,840
  • Monthly Mortgage: $ 182

Expense Assumptions

  • Prop Insurance: $ 1,120,000
  • Vacancy: $ 840
  • Prop Mgmt Fee: $ 1,680
  • Maintenance: $ 840
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 25.00 %
  • Points: 1.00
  • Interest Rate: 4.50 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 1,400
  • Rental Holding Period: 4


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