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


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