Wichita, KS


$ 90,000 - Buy & Hold

3.0 bd | 1.0 ba | 1,140 sqft | 1900 | $ 950 Rent

IRR
18.80 %
Yield-on-Cost
7.76 %
Cash on Cash
12.47 %
Net Monthly Cashflow
$250

Description

Traditional single story home with numerous updates throughout. With 3 Bedrooms, 1 Bathroom, a detached garage & partial basement, there's plenty of room for a starting or growing family or to add to your portfolio of investments. Newer LVP flooring throughout, freshly painted with a modern color scheme both inside & out, newer A/C unit, updated bathroom with a beautiful subway tile shower/tub, & updated kitchen with appliances that stay, including the Washer & Dryer in the separate laundry room/pantry, you'll save money not having to buy these right off the bat. Front Bedroom has 2 closets of its own, & the back 2 bedrooms share a spacious walk-through closet. Front porch has been entirely redone recently, a big value add with the price of lumber these days! With additional storage space in the basement & garage, this one is calling your name. Come check it out before its gone, lots of potential with this one!


Buy & Hold Analysis

  • IRR: 18.80 %
  • Net Cashflow: $ 3,003
  • Rehab Est: $ 0
  • Cap Rate: 7.76 %
  • Monthly Rent: $ 950
  • ARV: $ 94,900
  • Cash on Cash: 12.47 %
  • Taxes: $ 1,299

Financial Analysis

  • Loan Amnt: $ 67,500
  • All-in Cost: $ 91,575
  • Debt Coverage Ratio: 7.76 %
  • Total Out of Pocket: $ 24,075
  • Monthly Mortgage: $ 342

Expense Assumptions

  • Prop Insurance: $ 720,000
  • Vacancy: $ 570
  • Prop Mgmt Fee: $ 1,140
  • Maintenance: $ 570
  • 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: $ 900
  • Rental Holding Period: 4


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