Davenport, IA
$ 221,340 - Buy & Hold
5.0 bd | 2.0 ba | 2,380 sqft | 1900 | $ 1,400 Rent
IRR
27.56 %
Yield-on-Cost
14.77 %
Cash on Cash
22.28 %
Net Monthly Cashflow
$805
Description
VALUE ADD OPPORTUNITY! With a minimal investment you can make this outdated house turn key and ready for the next people to live in, or live in it yourself and fix it up as you go. It has 5 bedrooms and 2 full bathrooms, a large walk in attic and a nice block foundation. This house is to be bought in as-is condition. Seller is motivated and a licensed agent in IL&IA. Buyers and Buyers Agent to verify all measurements, aspects and features of the property. Property might qualify for FHA 203k Loan. Contact your agent to schedule a showing TODAY!
Buy & Hold Analysis
- IRR: 27.56 %
- Net Cashflow: $ 1,839
- Rehab Est: $ 30,000
- Cap Rate: 5.30 %
- Monthly Rent: $ 1,400
- ARV: $ 89,000
- Cash on Cash: 3.11 %
- Taxes: $ 833
Financial Analysis
- Loan Amnt: $ 37,425
- All-in Cost: $ 80,773
- Debt Coverage Ratio: 5.30 %
- Total Out of Pocket: $ 43,348
- Monthly Mortgage: $ 190
Expense Assumptions
- Prop Insurance: $ 1,770,720
- Vacancy: $ 840
- Prop Mgmt Fee: $ 1,680
- Maintenance: $ 840
- 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: $ 2,213
- Rental Holding Period: 4