225 E Bronson St, South Bend, IN


$ 120,000 - Buy & Hold

5.0 bd | 2.0 ba | 1,440 sqft | 1922 | $ 1,250 Rent

IRR
24.85 %
Yield-on-Cost
8.44 %
Cash on Cash
15.05 %
Net Monthly Cashflow
$396

Description

5/2 in heart of South Bend! Easy access to parks, theaters, museums, St. Joseph River, restaurants and bus lines. Home features new windows, roof, electrical service and panel, new lighting, flooring, interior and exterior paint, new kitchen, appliances, bathrooms, tile shower surrounds, new vanities.


Buy & Hold Analysis

  • IRR: 24.85 %
  • Net Cashflow: $ 4,660
  • Rehab Est: $ 0
  • Cap Rate: 8.30 %
  • Monthly Rent: $ 1,250
  • ARV: $ 149,500
  • Cash on Cash: 14.52 %
  • Taxes: $ 1,180

Financial Analysis

  • Loan Amnt: $ 88,500
  • All-in Cost: $ 120,065
  • Debt Coverage Ratio: 8.30 %
  • Total Out of Pocket: $ 31,565
  • Monthly Mortgage: $ 448

Expense Assumptions

  • Prop Insurance: $ 960,000
  • Vacancy: $ 750
  • Prop Mgmt Fee: $ 1,500
  • Maintenance: $ 750
  • 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: $ 1,200
  • Rental Holding Period: 4


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