123 W 8th St, Mishawaka, IN


$ 132,000 - Buy & Hold

3.0 bd | 1.5 ba | 1,868 sqft | 1905 | $ 1,550 Rent

IRR
12.10 %
Yield-on-Cost
8.36 %
Cash on Cash
11.03 %
Net Monthly Cashflow
$571

Description

Property Id: 196227 This lovely 3 bedroom apartment with 1.5 bathrooms has recently been remodeled. Featuring a new kitchen with, quartz countertops, spacious cabinets, new appliances and beautiful vinyl flooring. The apartment embraces the historic appearances with a fresh new look.


Buy & Hold Analysis

  • IRR: 12.10 %
  • Net Cashflow: $ 6,125
  • Rehab Est: $ 35,000
  • Cap Rate: 9.69 %
  • Monthly Rent: $ 1,550
  • ARV: $ 126,000
  • Cash on Cash: 20.53 %
  • Taxes: $ 1,260

Financial Analysis

  • Loan Amnt: $ 96,000
  • All-in Cost: $ 158,120
  • Debt Coverage Ratio: 9.69 %
  • Total Out of Pocket: $ 62,120
  • Monthly Mortgage: $ 530

Expense Assumptions

  • Prop Insurance: $ 990
  • Vacancy: $ 930
  • Prop Mgmt Fee: $ 1,488
  • Maintenance: $ 930
  • 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: $ 1,320
  • Rental Holding Period: 12


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