124 E Lawrence St, Mishawaka, IN


$ 135,000 - Buy & Hold

3.0 bd | 2.0 ba | 1,224 sqft | 1880 | $ 1,059 Rent

IRR
29.54 %
Yield-on-Cost
8.79 %
Cash on Cash
16.54 %
Net Monthly Cashflow
$315

Description

Fantastic 3/2 totally renovated home with newer roof, new kitchen, two totally renovated bathrooms, new flooring, lighting, stainless steel appliances!


Buy & Hold Analysis

  • IRR: 29.54 %
  • Net Cashflow: $ 1,586
  • Rehab Est: $ 45,000
  • Cap Rate: 5.64 %
  • Monthly Rent: $ 1,059
  • ARV: $ 135,000
  • Cash on Cash: 4.39 %
  • Taxes: $ 1,719

Financial Analysis

  • Loan Amnt: $ 65,250
  • All-in Cost: $ 88,073
  • Debt Coverage Ratio: 5.64 %
  • Total Out of Pocket: $ 22,823
  • Monthly Mortgage: $ 331

Expense Assumptions

  • Prop Insurance: $ 1,080,000
  • Vacancy: $ 635
  • Prop Mgmt Fee: $ 1,271
  • Maintenance: $ 635
  • 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: $ 1,350
  • Rental Holding Period: 4


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