Davenport, IA


$ 150,000 - Buy & Hold

4.0 bd | 4.0 ba | 2,716 sqft | 1900

IRR
16.34 %
Yield-on-Cost
9.58 %
Cash on Cash
19.44 %
Net Monthly Cashflow
$713

Description

4-unit Apartment building for sale. All units are 1-bedroom and feature some nice original finishes. 2,718 SF building with a 1,239 SF basement. One unit offline and needs renovation.


Buy & Hold Analysis

  • IRR: 16.34 %
  • Net Cashflow: $ 9,235
  • Rehab Est: $ 15,000
  • Cap Rate: 10.53 %
  • Monthly Rent: $ 0
  • ARV: $ 94,889
  • Cash on Cash: 23.01 %
  • Taxes: $ 2,505

Financial Analysis

  • Loan Amnt: $ 123,750
  • All-in Cost: $ 167,738
  • Debt Coverage Ratio: 10.53 %
  • Total Out of Pocket: $ 43,988
  • Monthly Mortgage: $ 627

Expense Assumptions

  • Prop Insurance: $ 1,200,000
  • Vacancy: $ 0
  • Prop Mgmt Fee: $ 0
  • Maintenance: $ 0
  • 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: $ 1,500
  • Rental Holding Period: 4


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