1520 Ottawa Ct, South Bend, IN


$ 250,000 - Buy & Hold

6.0 bd | 2.0 ba | 2,046 sqft | 1896 | $ 3,350 Rent

IRR
51.32 %
Yield-on-Cost
13.02 %
Cash on Cash
36.41 %
Net Monthly Cashflow
$1,625

Description

Total renovation includes new roof, new windows, new kitchens, totally renovated bathrooms, new flooring, interior and exterior paint, a lot of new siding, new lighting, appliances, new hvac, new hot water heaters, replaced sewer line to street. Four units that rent from $825-$850.


Buy & Hold Analysis

  • IRR: 51.32 %
  • Net Cashflow: $ 17,853
  • Rehab Est: $ 180,000
  • Cap Rate: 12.13 %
  • Monthly Rent: $ 3,350
  • ARV: $ 0
  • Cash on Cash: 31.60 %
  • Taxes: $ 594

Financial Analysis

  • Loan Amnt: $ 196,000
  • All-in Cost: $ 249,570
  • Debt Coverage Ratio: 12.13 %
  • Total Out of Pocket: $ 53,570
  • Monthly Mortgage: $ 1,082

Expense Assumptions

  • Prop Insurance: $ 1,875
  • Vacancy: $ 1,608
  • Prop Mgmt Fee: $ 3,216
  • Maintenance: $ 2,010
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 20.00 %
  • Points: 2.00
  • Interest Rate: 5.25 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 2,500
  • Rental Holding Period: 12


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