821 Diamond Ave, South Bend, IN


$ 62,400 - Fix & Flip

3.0 bd | 1.0 ba | 1,114 sqft | 1921 | $ 850 Rent

ARV
$67,340
Net Profit
$23,443
Net ROI
66.00 %

Description

Fantastic renovation with newer roof, new windows, new exterior and interior paint, carpet and luxury vinyl plank flooring, new kitchen, newly updated bath, new lighting. Great cash flow property that rents for around $825-$850 per month.


Fix & Flip Analysis

  • IRR: 54.05 %
  • Net Cashflow: $ 3,854
  • Rehab Est: $ 12,000
  • Cap Rate: 11.19 %
  • Monthly Rent: $ 850
  • ARV: $ 67,340
  • Cash on Cash: 27.33 %
  • Taxes: $ 800

Financial Analysis

  • Loan Amnt: $ 16,000
  • All-in Cost: $ 32,520
  • Debt Coverage Ratio: 11.19 %
  • Total Out of Pocket: $ 16,520
  • Monthly Mortgage: $ 88

Expense Assumptions

  • Prop Insurance: $ 468
  • Vacancy: $ 510
  • Prop Mgmt Fee: $ 816
  • Maintenance: $ 510
  • 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: $ 624
  • Rental Holding Period: 12


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