820 E 4th St, Mishawaka, IN
$ 140,000 - Buy & Hold
3.0 bd | 2.0 ba | 1,504 sqft | 1898 | $ 1,400 Rent
IRR
26.20 %
Yield-on-Cost
13.18 %
Cash on Cash
18.31 %
Net Monthly Cashflow
$761
Description
Fantastic cash flow 3/2 with new flooring, paint, lighting, kitchen, two newly renovated bathrooms, many new windows. Property is rented for $1,400 per month and has a fenced yard and huge storage building.
Buy & Hold Analysis
- IRR: 26.20 %
- Net Cashflow: $ 4,932
- Rehab Est: $ 37,000
- Cap Rate: 7.94 %
- Monthly Rent: $ 1,400
- ARV: $ 145,000
- Cash on Cash: 13.17 %
- Taxes: $ 1,450
Financial Analysis
- Loan Amnt: $ 36,000
- All-in Cost: $ 85,840
- Debt Coverage Ratio: 7.94 %
- Total Out of Pocket: $ 49,840
- Monthly Mortgage: $ 182
Expense Assumptions
- Prop Insurance: $ 1,120,000
- Vacancy: $ 840
- Prop Mgmt Fee: $ 1,680
- Maintenance: $ 840
- 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: $ 1,400
- Rental Holding Period: 4