1015 Diamond Ave, South Bend, IN


$ 66,500 - Fix & Flip

3.0 bd | 1.0 ba | 1,104 sqft | 1923 yr | $ 850 Rent

ARV
$69,371
Net Profit
$27,944
All-in Cost to ARV
43.96 %
Net ROI
91.63 %

Description

Fantastic 3/1 on unfinished basement close to Notre Dame in a gentrifying area off Portage. Newer roof, updated windows, new exterior and interior paint, lighting, flooring, updated kitchen and bathroom. So much to like, rents should be in the $850 range.


Fix & Flip Analysis

  • ARV: $69,371
  • Net Profit: $27,944
  • All-in Cost to ARV: 43.96 %

Financial Analysis

  • Loan Amnt: $ 13,599.75
  • All-in Cost: $ 30,496.79
  • Debt Coverage Ratio: 7.71 %
  • Total Out of Pocket: $ 16,897.04
  • Monthly Mortgage: $ 68.91

Expense Assumptions

  • Prop Insurance: $ 800.00
  • Annual Vacancy: $ 510
  • Prop Mgmt Fee: $ 969.00
  • Maintenance Cost: 484.50
  • 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: $ 181
  • Rental Holding Period: 4.00


Contact An Agent About This Property