Madison, IL


$ 119,900 - Buy & Hold

4.0 bd | 2.0 ba | 1,550 sqft | 1959 yr | $ 750 Rent

IRR
30.65 %
Yield-on-Cost
11.26 %
Cash on Cash
21.89 %
Net Monthly Cashflow
$509

Description

GREAT INVESTMENT! MUST SELL AS PACKAGE WITH 903 MADISON AVE. MLS #22048996. FULL BRICK RANCH STYLE DUPLEX. HAS LONG TERM TENANTS. RENT FOR 1108 IS $600. RENT FOR 1110 IS $550. BOTH ARE PAID THROUGH MADISON COUNTY HOUSING AUTHORITY. EACH UNIT HAS TWO BEDROOMS AND ONE BATH. THERE'S AN ATTACHED CARPORT WITH ALLEY ACCESS TOO. INSURANCE IS $1599. SEWER IS $42 AND TRASH IS $24 MONTHLY AND IS PAID BY OWNER. 48 HOUR NOTICE NEEDED. PLEASE DO NOT DISTURB TENANTS. NO SIGN. PREAPPROVED BUYERS ONLY PLEASE.


Buy & Hold Analysis

  • ARV: $119,900
  • Yield-on-Cost: 11.26 %
  • Net Monthly Cashflow: $509
  • Monthly Rent: $750

Financial Analysis

  • Loan Amnt: $ 78,750.00
  • All-in Cost: $ 106,637.50
  • Debt Coverage Ratio: 2.03 %
  • Total Out of Pocket: $ 27,887.50
  • Monthly Mortgage: $ 492.19

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $1,710
  • Vacancy: $450
  • Capex: $0

Financing Assumptions

  • Down Payment: $26,250
  • Interest Rate: 7.50 %
  • Loan Term Months: 360.00
  • Points: $788

Other Assumptions

  • Closing Cost: $ 850
  • Rental Holding Period: 4.00


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