730 S 35th St, South Bend, IN


$ 138,000 - Buy & Hold

3.0 bd | 2.0 ba | 1,328 sqft | 1914 | $ 1,500 Rent

IRR
22.63 %
Yield-on-Cost
13.72 %
Cash on Cash
16.93 %
Net Monthly Cashflow
$880

Description

Sturdy 3 bed 1 bath home in established neighborhood. Features main level bedroom, 3 season porch, eat in kitchen, main level laundry, all appliances stay. Large walk in closet adjacent to upstairs bedroom. 24 x 20 detached garage with stairway access to large open loft above ; would make he perfect rec room or man cave.


Buy & Hold Analysis

  • IRR: 22.63 %
  • Net Cashflow: $ 5,861
  • Rehab Est: $ 53,000
  • Cap Rate: 8.66 %
  • Monthly Rent: $ 1,500
  • ARV: $ 138,000
  • Cash on Cash: 15.88 %
  • Taxes: $ 1,581

Financial Analysis

  • Loan Amnt: $ 26,250
  • All-in Cost: $ 88,613
  • Debt Coverage Ratio: 8.66 %
  • Total Out of Pocket: $ 62,363
  • Monthly Mortgage: $ 133

Expense Assumptions

  • Prop Insurance: $ 1,104,000
  • Vacancy: $ 900
  • Prop Mgmt Fee: $ 1,800
  • Maintenance: $ 900
  • 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: $ 1,380
  • Rental Holding Period: 4


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