123 W 8th St, Mishawaka, IN
$ 132,000 - Buy & Hold
3.0 bd | 1.5 ba | 1,868 sqft | 1905 | $ 1,550 Rent
IRR
12.10 %
Yield-on-Cost
8.36 %
Cash on Cash
11.03 %
Net Monthly Cashflow
$571
Description
Property Id: 196227 This lovely 3 bedroom apartment with 1.5 bathrooms has recently been remodeled. Featuring a new kitchen with, quartz countertops, spacious cabinets, new appliances and beautiful vinyl flooring. The apartment embraces the historic appearances with a fresh new look.
Buy & Hold Analysis
- IRR: 12.10 %
- Net Cashflow: $ 6,125
- Rehab Est: $ 35,000
- Cap Rate: 9.69 %
- Monthly Rent: $ 1,550
- ARV: $ 126,000
- Cash on Cash: 20.53 %
- Taxes: $ 1,260
Financial Analysis
- Loan Amnt: $ 96,000
- All-in Cost: $ 158,120
- Debt Coverage Ratio: 9.69 %
- Total Out of Pocket: $ 62,120
- Monthly Mortgage: $ 530
Expense Assumptions
- Prop Insurance: $ 990
- Vacancy: $ 930
- Prop Mgmt Fee: $ 1,488
- Maintenance: $ 930
- 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: $ 1,320
- Rental Holding Period: 12