Wichita, KS


$ 350,000 - Short Term Rental

4.0 bd | 3.5 ba | 4,409 sqft | 1890 | $ 1,875 Rent

ARV
$350,000
IRR
-0.09 %
Cash on Cash
0.40 %
Net Monthly Cashflow
$54

Description

Great AirBnB property potential, bedrooms can be added by converting some common areas, and finishing basement rooms that have cool brick walls as well as the third floor that could likely be two more bedrooms and two more baths. Great location close to restaurants and in the heart of downtown!


Short Term Rental Analysis

  • IRR: -0.09 %
  • Net Cashflow: $ -6,838
  • Rehab Est: $ 100,000
  • Cap Rate: 3.96 %
  • Monthly Rent: $ 1,875
  • ARV: $ 350,000
  • Cash on Cash: -7.30 %
  • Taxes: $ 3,250

Financial Analysis

  • Loan Amnt: $ 168,750
  • All-in Cost: $ 328,938
  • Debt Coverage Ratio: 3.96 %
  • Total Out of Pocket: $ 160,188
  • Monthly Mortgage: $ 1,123

Expense Assumptions

  • Prop Insurance: $ 2,800,000
  • Vacancy: $ 1,125
  • Prop Mgmt Fee: $ 2,250
  • Maintenance: $ 1,125
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 25.00 %
  • Points: 1.00
  • Interest Rate: 7.00 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 3,500
  • Rental Holding Period: 4


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