Elkhart, IN


$ 79,900 - Buy & Hold

3.0 bd | 1.0 ba | 1,164 sqft | 1861 | $ 850 Rent

IRR
12.30 %
Yield-on-Cost
7.60 %
Cash on Cash
10.81 %
Net Monthly Cashflow
$255

Description

Three or four bedroom home with fenced yard and a garage. New exterior paint, some newer renovations in the last two years. Bathroom has updated toilet and vanity, flooring fairly new. I would paint the interior, put a few newer upper cabinets in and paint them trendy color with new hardware.


Buy & Hold Analysis

  • IRR: 12.30 %
  • Net Cashflow: $ 3,066
  • Rehab Est: $ 7,000
  • Cap Rate: 8.25 %
  • Monthly Rent: $ 850
  • ARV: $ 79,900
  • Cash on Cash: 14.34 %
  • Taxes: $ 727

Financial Analysis

  • Loan Amnt: $ 59,925
  • All-in Cost: $ 88,298
  • Debt Coverage Ratio: 8.25 %
  • Total Out of Pocket: $ 28,373
  • Monthly Mortgage: $ 304

Expense Assumptions

  • Prop Insurance: $ 639,200
  • Vacancy: $ 510
  • Prop Mgmt Fee: $ 1,020
  • Maintenance: $ 510
  • 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: $ 799
  • Rental Holding Period: 4


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