Great ROI and Annual Cash Flow!
Evansville , IN 47714
Single family residence built in 1945. 4BD 2BA
Square Feet2,928
Initial Market Value$124,900
Purchase Price$124,900
Downpayment$31,225
Loan Origination Fees$2,108
Depreciable Closing Costs$4,996
Other Closing Costs and Fixup$0
Initial Cash Invested$38,329
Cost per Square Foot$43
Monthly Rent per Square Foot$0.44
IncomeMonthlyAnnual
Gross Rent$1,275$15,300
Vacancy Losses($102)($1,224)
Operating Income$1,173$14,076
ExpensesMonthlyAnnual
Property Taxes($156)($1,874)
Insurance($62)($749)
Management Fees($94)($1,126)
Leasing/Advertising Fees$0$0
Association Fees$0$0
Maintenance($102)($1,224)
Other$0$0
Operating Expenses($414)($4,973)
Net PerformanceMonthlyAnnual
Net Operating Income$759$9,103
- Mortgage Payments($623)($7,471)
= Cash Flow$136$1,632
+ Principal Reduction$79$953
+ First-Year Appreciation$625$7,494
= Gross Equity Income$840$10,079
+ Tax Savings$35$422
= GEI w/Tax Savings$875$10,501
Mortgage InfoFirstSecond
Loan-to-Value Ratio75%0%
Loan Amount$93,675$0
Monthly Payment$622.59$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate6.990%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.22
Annual Gross Rent Multiplier8
Monthly Gross Rent Multiplier98
Capitalization Rate7.3%
Cash on Cash Return4%
Total Return on Investment26%
+ Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc.
Assumptions
Real Estate Appreciation Rate6%
Vacancy Rate8%
Management Fee8%
Maintenance Percentage8%
Comments
Awesome house with tons of character. Located near the University of Evansville! Fantastic opportunity. Full rehab in process. Wonderful location and awesome property.
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.