Canton, OH


$ 118,184 - Buy & Hold

6.0 bd | 4.0 ba | 3,476 sqft | 1904

IRR
38.05 %
Yield-on-Cost
12.90 %
Cash on Cash
26.83 %
Net Monthly Cashflow
$591

Description

This duplex has great features including original wood working, each unit has separately metered utilities and own furnace and hot water tank. The basement is shared with the Laundry currently hooked up to unit 1315 utilities. 1315 is a first floor one bedroom unit with one bath and access to basement from unit. Unit 1313 is a two bedroom unit, one bath, and access to basement from exterior side door. The screened in porch is closed off but could be reopened if desired. Sit on the slab patio out back and enjoy the privacy. There has been several upgrades made to the building including structural, electrical, plumbing, and cosmetically. Unit 1313 was rented at $595 and Unit 1315 was rented for $615. Both units are vacant for ease of showing.


Buy & Hold Analysis

  • IRR: 38.05 %
  • Net Cashflow: $ 6,008
  • Rehab Est: $ 30,000
  • Cap Rate: 10.88 %
  • Monthly Rent: $ 0
  • ARV: $ 120,000
  • Cash on Cash: 19.01 %
  • Taxes: $ 1,135

Financial Analysis

  • Loan Amnt: $ 75,000
  • All-in Cost: $ 101,450
  • Debt Coverage Ratio: 10.88 %
  • Total Out of Pocket: $ 26,450
  • Monthly Mortgage: $ 499

Expense Assumptions

  • Prop Insurance: $ 945,472
  • 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: $ 1,182
  • Rental Holding Period: 4


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