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