809 W 4th St, Mishawaka, IN
$ 139,000 - Fix & Flip
2.0 bd | 2.0 ba | 1,470 sqft | 1900 | $ 835 Rent
ARV
$115,000
Net Profit
$40,599
Net ROI
43.00 %
Description
Totally renovated home in a great neighborhood. New roof, newer windows, new condensing unit, newer furnace, new hot water heater. New exterior and interior paint, gutted and redone bathrooms including tile showers, new vanities, toilets, towel rods, mirrors, new carpet and luxury vinyl plank flooring, new stainless stove. Sold in less than 5 days!
Fix & Flip Analysis
- IRR: 18.03 %
- Net Cashflow: $ -547
- Rehab Est: $ 45,000
- Cap Rate: 4.09 %
- Monthly Rent: $ 835
- ARV: $ 115,000
- Cash on Cash: -1.47 %
- Taxes: $ 1,500
Financial Analysis
- Loan Amnt: $ 66,750
- All-in Cost: $ 90,108
- Debt Coverage Ratio: 4.09 %
- Total Out of Pocket: $ 23,358
- Monthly Mortgage: $ 338
Expense Assumptions
- Prop Insurance: $ 1,112,000
- Vacancy: $ 501
- Prop Mgmt Fee: $ 1,002
- Maintenance: $ 501
- 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: $ 1,390
- Rental Holding Period: 4