South Bend, IN
$ 49,900 - Buy & Hold
2.0 bd | 1.0 ba | 988 sqft | 1928 | $ 850 Rent
IRR
36.06 %
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
- IRR: 36.06 %
- Net Cashflow: $ 4,562
- Rehab Est: $ 0
- Cap Rate: 13.47 %
- Monthly Rent: $ 850
- ARV: $ 72,486
- Cash on Cash: 34.18 %
- Taxes: $ 599
Financial Analysis
- Loan Amnt: $ 44,925
- All-in Cost: $ 60,948
- Debt Coverage Ratio: 13.47 %
- Total Out of Pocket: $ 16,023
- Monthly Mortgage: $ 228
Expense Assumptions
- Prop Insurance: $ 399,200
- 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: $ 499
- Rental Holding Period: 4