1520 Ottawa Ct, South Bend, IN
$ 250,000 - Buy & Hold
6.0 bd | 2.0 ba | 2,046 sqft | 1896 | $ 3,350 Rent
IRR
51.32 %
Yield-on-Cost
13.02 %
Cash on Cash
36.41 %
Net Monthly Cashflow
$1,625
Description
Total renovation includes new roof, new windows, new kitchens, totally renovated bathrooms, new flooring, interior and exterior paint, a lot of new siding, new lighting, appliances, new hvac, new hot water heaters, replaced sewer line to street. Four units that rent from $825-$850.
Buy & Hold Analysis
- IRR: 51.32 %
- Net Cashflow: $ 17,853
- Rehab Est: $ 180,000
- Cap Rate: 12.13 %
- Monthly Rent: $ 3,350
- ARV: $ 0
- Cash on Cash: 31.60 %
- Taxes: $ 594
Financial Analysis
- Loan Amnt: $ 196,000
- All-in Cost: $ 249,570
- Debt Coverage Ratio: 12.13 %
- Total Out of Pocket: $ 53,570
- Monthly Mortgage: $ 1,082
Expense Assumptions
- Prop Insurance: $ 1,875
- Vacancy: $ 1,608
- Prop Mgmt Fee: $ 3,216
- Maintenance: $ 2,010
- Capex: $ 0
Financing Assumptions
- Cash Purchase: No
- Loan Term: 360 months
- Down Payment: 20.00 %
- Points: 2.00
- Interest Rate: 5.25 %
- Interest only loan: No
Other Assumptions
- Closing Cost: $ 2,500
- Rental Holding Period: 12