608 Reddick St, Mishawaka, IN


$ 87,000 - Buy & Hold

3.0 bd | 2.0 ba | 1,304 sqft | 1910 | $ 875 Rent

IRR
143.34 %
Yield-on-Cost
24.61 %
Cash on Cash
88.27 %
Net Monthly Cashflow
$441

Description

Totally renovated 3/2 home new kitchen, appliances, bathrooms, flooring, paint, roof, plumbing and so much more!


Buy & Hold Analysis

  • IRR: 143.34 %
  • Net Cashflow: $ 1,626
  • Rehab Est: $ 0
  • Cap Rate: 6.99 %
  • Monthly Rent: $ 875
  • ARV: $ 89,301
  • Cash on Cash: 8.27 %
  • Taxes: $ 1,788

Financial Analysis

  • Loan Amnt: $ 21,200
  • All-in Cost: $ 27,189
  • Debt Coverage Ratio: 6.99 %
  • Total Out of Pocket: $ 5,989
  • Monthly Mortgage: $ 117

Expense Assumptions

  • Prop Insurance: $ 653
  • Vacancy: $ 525
  • Prop Mgmt Fee: $ 840
  • Maintenance: $ 525
  • 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: $ 870
  • Rental Holding Period: 12


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