323 Indiana Avenue, Mishawaka, IN
$ 160,000 - Buy & Hold
4.0 bd | 2.0 ba | 1,484 sqft | 1939 | $ 1,200 Rent
IRR
18.99 %
Yield-on-Cost
6.96 %
Cash on Cash
9.48 %
Net Monthly Cashflow
$270
Description
Fantastic 4 Bedroom 2 bath property, coming soon located walking distance to the newly renovated Mishawaka High School. Fabulous living room, eat in dining room and incredible kitchen. This home is getting a new deck off of the dining area that will allow tons of light.
Buy & Hold Analysis
- IRR: 18.99 %
- Net Cashflow: $ 1,868
- Rehab Est: $ 65,000
- Cap Rate: 5.63 %
- Monthly Rent: $ 1,200
- ARV: $ 160,000
- Cash on Cash: 4.36 %
- Taxes: $ 1,664
Financial Analysis
- Loan Amnt: $ 97,500
- All-in Cost: $ 131,625
- Debt Coverage Ratio: 5.63 %
- Total Out of Pocket: $ 34,125
- Monthly Mortgage: $ 494
Expense Assumptions
- Prop Insurance: $ 1,280,000
- Vacancy: $ 720
- Prop Mgmt Fee: $ 1,440
- Maintenance: $ 720
- 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: $ 1,600
- Rental Holding Period: 4