Davenport, IA


$ 250,000 - Buy & Hold

4.0 bd | 2.0 ba | 2,152 sqft | 1915 | $ 1,800 Rent

IRR
20.44 %
Yield-on-Cost
7.82 %
Cash on Cash
8.48 %
Net Monthly Cashflow
$341

Description

Welcome to this gracious Dutch Colonial located in the Fulton subdivision adjacent to the Bridge Avenue Historic District and an active Bridge Avenue Historic Association District. Situated along a tree lined street this property offers seasonal views of the Mississippi River. A double door vestibule front entryway leads to an open foyer adorned with the original woodwork and hardwood floors and continue throughout the house. Exterior stucco repaired '21, painted '22. Sellers have begun restoration and are ready for the next buyer to complete the project. Half bath on main & the Kitchen gutted down to studs, cabinets, sink, hardware and new refrigerator remain. Other numerous fixtures purchased (will stay) & scope of work completed in attachments. selling "as-is. Quotes for either HVAC system or boiler & pipe replacement available for buyers reference. Sellers have not used wood burning fireplace - unknown status. Per City of Davenport, property eligible for URTE.


Buy & Hold Analysis

  • IRR: 20.44 %
  • Net Cashflow: $ 283
  • Rehab Est: $ 65,000
  • Cap Rate: 5.70 %
  • Monthly Rent: $ 1,800
  • ARV: $ 250,000
  • Cash on Cash: 0.42 %
  • Taxes: $ 2,138

Financial Analysis

  • Loan Amnt: $ 137,250
  • All-in Cost: $ 185,553
  • Debt Coverage Ratio: 5.70 %
  • Total Out of Pocket: $ 48,303
  • Monthly Mortgage: $ 868

Expense Assumptions

  • Prop Insurance: $ 2,000,000
  • Vacancy: $ 1,080
  • Prop Mgmt Fee: $ 2,160
  • Maintenance: $ 1,080
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 25.00 %
  • Points: 1.00
  • Interest Rate: 6.50 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 2,500
  • Rental Holding Period: 6


Contact An Agent About This Property