South Bend, IN


$ 49,900 - Buy & Hold

2.0 bd | 1.0 ba | 988 sqft | 1928 yr | $ 850 Rent

IRR
35.44 %
Yield-on-Cost
11.22 %
Cash on Cash
25.63 %
Net Monthly Cashflow
$342

Description

Here is a great opportunity to purchase an established rental. Tenant would like to stay and continue leasing. Property offers 2 bedrooms, 1 bath. Freshly painted and new carpeting. Professionally managed. Sold As-Is. Other property available by the same owner.


Buy & Hold Analysis

  • ARV: $72,486
  • Yield-on-Cost: 11.22 %
  • Net Monthly Cashflow: $342
  • Monthly Rent: $850

Financial Analysis

  • Loan Amnt: $ 44,925.00
  • All-in Cost: $ 60,948.25
  • Debt Coverage Ratio: 2.50 %
  • Total Out of Pocket: $ 16,023.25
  • Monthly Mortgage: $ 227.63

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $969
  • Vacancy: $510
  • Capex: $0

Financing Assumptions

  • Down Payment: $14,975
  • Interest Rate: 4.50 %
  • Loan Term Months: 360.00
  • Points: $449

Other Assumptions

  • Closing Cost: $ 599
  • Rental Holding Period: 4.00


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