945 Lincolnway E, Mishawaka, IN
$ 186,000 - Buy & Hold
5.0 bd | 3.0 ba | 2,200 sqft | 1900 | $ 2,340 Rent
IRR
50.56 %
Yield-on-Cost
16.86 %
Cash on Cash
35.91 %
Net Monthly Cashflow
$1,261
Description
This is very nice one bedroom and one bath apartment. Locate in nice and very convenient location. Just remodel and upgrade. is available now see pictures.
Owner Pay water and gas
Buy & Hold Analysis
- IRR: 50.56 %
- Net Cashflow: $ 9,809
- Rehab Est: $ 20,000
- Cap Rate: 10.31 %
- Monthly Rent: $ 2,340
- ARV: $ 190,000
- Cash on Cash: 23.33 %
- Taxes: $ 2,144
Financial Analysis
- Loan Amnt: $ 78,400
- All-in Cost: $ 120,548
- Debt Coverage Ratio: 10.31 %
- Total Out of Pocket: $ 42,148
- Monthly Mortgage: $ 433
Expense Assumptions
- Prop Insurance: $ 1,395
- Vacancy: $ 1,404
- Prop Mgmt Fee: $ 2,246
- Maintenance: $ 1,404
- 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: $ 1,860
- Rental Holding Period: 12