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


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