Davenport, IA


$ 175,000 - Buy & Hold

4.0 bd | 3.0 ba | 2,480 sqft | 1900

IRR
25.44 %
Yield-on-Cost
10.70 %
Cash on Cash
18.31 %
Net Monthly Cashflow
$714

Description

Well-located tri-plex for sale in central Davenport on a corner lot with a single-car detached garage. Two 1-bedroom units and one 2-bedroom unit in the property. Tenants responsible for separately metered G/E, Landlord responsible for water. Annual gross rent of $26,790 with 5% vacancy. Currently 100% occupied. $900 2BR $650 1BR $800


Buy & Hold Analysis

  • IRR: 25.44 %
  • Net Cashflow: $ 8,570
  • Rehab Est: $ 0
  • Cap Rate: 10.70 %
  • Monthly Rent: $ 0
  • ARV: $ 175,000
  • Cash on Cash: 18.31 %
  • Taxes: $ 2,923

Financial Analysis

  • Loan Amnt: $ 131,250
  • All-in Cost: $ 178,063
  • Debt Coverage Ratio: 10.70 %
  • Total Out of Pocket: $ 46,813
  • Monthly Mortgage: $ 873

Expense Assumptions

  • Prop Insurance: $ 1,400,000
  • Vacancy: $ 0
  • Prop Mgmt Fee: $ 0
  • Maintenance: $ 0
  • 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: $ 1,750
  • Rental Holding Period: 4


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