1805 Leer St, South Bend, IN
$ 92,900 - Fix & Flip
4.0 bd | 1.0 ba | 1,200 sqft | 1922 | $ 900 Rent
ARV
$93,900
Net Profit
$18,041
Net ROI
26.00 %
Description
OUTSTANDING 4/1. Great B- street close to Mishawaka. Newer
architectural roof, new windows, exterior and interior paint, luxury vinyl
plank and carpet, lighting, a totally new bathroom, and an updated kitchen that will receive new stainless appliances, and H-U-G-E two-car garage. Should rent for $900 month!
Fix & Flip Analysis
- IRR: 31.87 %
- Net Cashflow: $ 2,385
- Rehab Est: $ 35,000
- Cap Rate: 7.00 %
- Monthly Rent: $ 900
- ARV: $ 93,900
- Cash on Cash: 9.60 %
- Taxes: $ 1,300
Financial Analysis
- Loan Amnt: $ 50,250
- All-in Cost: $ 67,823
- Debt Coverage Ratio: 7.00 %
- Total Out of Pocket: $ 17,573
- Monthly Mortgage: $ 255
Expense Assumptions
- Prop Insurance: $ 743,200
- Vacancy: $ 540
- Prop Mgmt Fee: $ 1,080
- Maintenance: $ 540
- 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: $ 929
- Rental Holding Period: 4