945 Lincolnway E, Mishawaka, IN


$ 186,000 - Buy & Hold

5.0 bd | 3.0 ba | 2,200 sqft | 1900 | $ 2,340 Rent

IRR
50.56 %
Yield-on-Cost
16.86 %
Cash on Cash
35.91 %
Net Monthly Cashflow
$1,261

Description

This is very nice one bedroom and one bath apartment. Locate in nice and very convenient location. Just remodel and upgrade. is available now see pictures.

Owner Pay water and gas


Buy & Hold Analysis

  • IRR: 50.56 %
  • Net Cashflow: $ 9,809
  • Rehab Est: $ 20,000
  • Cap Rate: 10.31 %
  • Monthly Rent: $ 2,340
  • ARV: $ 190,000
  • Cash on Cash: 23.33 %
  • Taxes: $ 2,144

Financial Analysis

  • Loan Amnt: $ 78,400
  • All-in Cost: $ 120,548
  • Debt Coverage Ratio: 10.31 %
  • Total Out of Pocket: $ 42,148
  • Monthly Mortgage: $ 433

Expense Assumptions

  • Prop Insurance: $ 1,395
  • Vacancy: $ 1,404
  • Prop Mgmt Fee: $ 2,246
  • Maintenance: $ 1,404
  • 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: $ 1,860
  • Rental Holding Period: 12


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