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