South Bend, IN


$ 165,000 - Buy & Hold

3.0 bd | 2.0 ba | 1,248 sqft | 1918 yr | $ 1,550 Rent

IRR
66.64 %
Yield-on-Cost
16.19 %
Cash on Cash
45.17 %
Net Monthly Cashflow
$732

Description

Under total renovation with new pictures coming soon. Very close to Indiana State University South Bend. New kitchen cabinets, countertops, appliances, refinished hardwood floors, bathrooms gutted to studs and redone, with new plumbing, a lot of new electrical, new hot water heater, mostly newer vinyl windows, all new interior paint and lighting, and so much more. This property should rent for $1,550 +.


Buy & Hold Analysis

  • ARV: $165,000
  • Yield-on-Cost: 16.19 %
  • Net Monthly Cashflow: $732
  • Monthly Rent: $1,550

Financial Analysis

  • Loan Amnt: $ 70,400.00
  • All-in Cost: $ 89,838.00
  • Debt Coverage Ratio: 2.52 %
  • Total Out of Pocket: $ 19,438.00
  • Monthly Mortgage: $ 480.25

Expense Assumptions

  • Prop Insurance: $323
  • Prop Mgmt Fee: $1,414
  • Vacancy: $930
  • Capex: $0

Financing Assumptions

  • Down Payment: $17,600
  • Interest Rate: 7.25 %
  • Loan Term Months: 360.00
  • Points: $1,408

Other Assumptions

  • Closing Cost: $ 430
  • Rental Holding Period: 12.00


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