Davenport, IA


$ 265,000 - Buy & Hold

4.0 bd | 5.0 ba | 6,466 sqft | 1895

IRR
17.81 %
Yield-on-Cost
8.45 %
Cash on Cash
14.06 %
Net Monthly Cashflow
$611

Description

Tri-plex investment opportunity! This property has potential to bring in nearly 2k in gross rents each month! Upper and lower units have long term month to month tenants in place, the studio apartment is vacant! The garage is currently unused by any tenant. Common laundry in basement. Schedule your showing today.


Buy & Hold Analysis

  • IRR: 17.81 %
  • Net Cashflow: $ 2,771
  • Rehab Est: $ 8,000
  • Cap Rate: 5.51 %
  • Monthly Rent: $ 0
  • ARV: $ 165,000
  • Cash on Cash: 3.91 %
  • Taxes: $ 2,756

Financial Analysis

  • Loan Amnt: $ 123,750
  • All-in Cost: $ 175,888
  • Debt Coverage Ratio: 5.51 %
  • Total Out of Pocket: $ 52,138
  • Monthly Mortgage: $ 627

Expense Assumptions

  • Prop Insurance: $ 2,120,000
  • 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: $ 2,650
  • Rental Holding Period: 4


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