617 Portage Ave, South Bend, IN
$ 125,000 - Fix & Flip
5.0 bd | 2.0 ba | 1,624 sqft | 1886 yr | $ 1,450 Rent
ARV
$125,000
Net Profit
$39,761
All-in Cost to ARV
60.27 %
Net ROI
52.78 %
Description
Fantastic Duplex bringing in $1,450 per month income, located close to South Bend Hospital and surrounded by renovated Victorian mansions. The new Firehouse Museum that is just being finished is two doors down. The upstairs unit is totally renovated with a new kitchen, new bathroom and more!
Fix & Flip Analysis
- ARV: $125,000
- Net Profit: $39,761
- All-in Cost to ARV: 60.27 %
Financial Analysis
- Loan Amnt: $ 40,500.00
- All-in Cost: $ 75,338.78
- Debt Coverage Ratio: 5.10 %
- Total Out of Pocket: $ 34,838.78
- Monthly Mortgage: $ 205.21
Expense Assumptions
- Prop Insurance: $ 800.00
- Annual Vacancy: $ 870
- Prop Mgmt Fee: $ 1,653.00
- Maintenance Cost: 826.50
- 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: $ 540
- Rental Holding Period: 4.00