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