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


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