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