Davenport, IA
$ 320,664 - Short Term Rental
4.0 bd | 4.0 ba | 3,500 sqft | 1905 | $ 4,763 Rent
ARV
$0
IRR
32.03 %
Cash on Cash
24.84 %
Net Monthly Cashflow
$2,131
Description
Stately 3 unit income producing residence or rental property in lovely condition. Same owner for 36 years. " Projected or estimated" total yearly rental income $34,800, not actual. Back private entrance to neat and clean furnished apartments up. Per owner in excellent shape and would easily rent. Also, 45' x 45' concrete parking in back. New roof in 2019. Newly rebuilt front porch.
Short Term Rental Analysis
- IRR: 32.03 %
- Net Cashflow: $ 24,086
- Rehab Est: $ 18,000
- Cap Rate: 11.25 %
- Monthly Rent: $ 4,763
- ARV: $ 0
- Cash on Cash: 25.73 %
- Taxes: $ 5,302
Financial Analysis
- Loan Amnt: $ 238,125
- All-in Cost: $ 341,056
- Debt Coverage Ratio: 11.25 %
- Total Out of Pocket: $ 102,931
- Monthly Mortgage: $ 1,207
Expense Assumptions
- Prop Insurance: $ 2,565,312
- Vacancy: $ 8,573
- Prop Mgmt Fee: $ 5,716
- Maintenance: $ 2,858
- 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: $ 3,207
- Rental Holding Period: 4