Wichita, KS


$ 99,000 - Buy & Hold

4.0 bd | 2.0 ba | 1,235 sqft | 1945 | $ 980 Rent

IRR
13.93 %
Yield-on-Cost
7.35 %
Cash on Cash
10.32 %
Net Monthly Cashflow
$261

Description

This super cute ranch home in east Wichita is located just down the street from College Hill and numerous restaurants, shopping options, and parks. With four bedrooms and one and a half baths spanning an all main floor layout, it has just enough room to spread out. Enter the home and you'll find gleaming hardwood floors. The decorative fireplace makes a perfect backdrop for holiday gatherings with family or friends, and there's a built-in shelf for storage and display. The updated kitchen is bright and clean with white cabinets, neutral colors, and newer vinyl flooring. There's also an adjoining dining room to enjoy a meal or your morning coffee. Four bedrooms are spread out along the main floor, including the spacious master suite that has a walk-in closet with built-in shelves above it. Outside, the back yard offers a storage shed, patio, and plenty of room for outdoor activities. What are you waiting for?


Buy & Hold Analysis

  • IRR: 13.93 %
  • Net Cashflow: $ 2,948
  • Rehab Est: $ 5,000
  • Cap Rate: 7.41 %
  • Monthly Rent: $ 980
  • ARV: $ 99,000
  • Cash on Cash: 11.13 %
  • Taxes: $ 1,234

Financial Analysis

  • Loan Amnt: $ 71,175
  • All-in Cost: $ 101,561
  • Debt Coverage Ratio: 7.41 %
  • Total Out of Pocket: $ 30,386
  • Monthly Mortgage: $ 361

Expense Assumptions

  • Prop Insurance: $ 792,000
  • Vacancy: $ 588
  • Prop Mgmt Fee: $ 1,176
  • Maintenance: $ 588
  • 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: $ 990
  • Rental Holding Period: 4


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