Saint Joseph, MO


$ 475,000 - Buy & Hold

9.0 bd | 6.0 ba | 7,837 sqft | 1889 | $ 16,425 Rent

IRR
-98.54 %
Yield-on-Cost
31.87 %
Cash on Cash
99.96 %
Net Monthly Cashflow
$10,585

Description

Spectacular AirBnB potential for this property. Two homes on this property with the main mansion having 6,000 square feet and 7 bedrooms and 4 baths and the carriage house having 2 bedrooms and 2 baths. There is a grand staircase, 8 fireplaces, pocket doors, wainscoting, hardwood floors, stained glass windows and so many more elegant details! The Whiskey Mansion Inn is the closet comp and it doesn't come close, but it's rooms go from $79-140 a night. This property would be an incredible wedding venue, fabulous for retirement parties, birthday parties, and anniversaries. It's also close to the interstate to attract travelers going North and South. The property appraised a year ago for $480,000.


Buy & Hold Analysis

  • IRR: -98.54 %
  • Net Cashflow: $ 127,015
  • Rehab Est: $ 0
  • Cap Rate: 31.87 %
  • Monthly Rent: $ 16,425
  • ARV: $ 332,000
  • Cash on Cash: 99.96 %
  • Taxes: $ 4,323

Financial Analysis

  • Loan Amnt: $ 356,250
  • All-in Cost: $ 483,313
  • Debt Coverage Ratio: 31.87 %
  • Total Out of Pocket: $ 127,063
  • Monthly Mortgage: $ 2,252

Expense Assumptions

  • Prop Insurance: $ 3,800,000
  • Vacancy: $ 9,855
  • Prop Mgmt Fee: $ 19,710
  • Maintenance: $ 9,855
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 25.00 %
  • Points: 1.00
  • Interest Rate: 6.50 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 4,750
  • Rental Holding Period: 4


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