Pre-Leased Property
Greenwood, IN 46142
4BR, 2.5BA, Built in 1961
Square Feet | 1,887 | Initial Market Value | $136,900 | Purchase Price | $136,900 | Downpayment | $34,225 | Loan Origination Fees | $2,310 | Depreciable Closing Costs | $5,476 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $42,011 | Cost per Square Foot | $73 | Monthly Rent per Square Foot | $0.65 |
Income | Monthly | Annual |
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Gross Rent | $1,225 | $14,700 | Vacancy Losses | ($98) | ($1,176) | Operating Income | $1,127 | $13,524 |
Expenses | Monthly | Annual |
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Property Taxes | ($160) | ($1,917) | Insurance | ($60) | ($726) | Management Fees | ($90) | ($1,082) | Leasing/Advertising Fees | $0 | $0 | Association Fees | $0 | $0 | Maintenance | ($98) | ($1,176) | Other | $0 | $0 | Operating Expenses | ($408) | ($4,900) |
Net Performance | Monthly | Annual |
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Net Operating Income | $719 | $8,624 | - Mortgage Payments | ($682) | ($8,189) | = Cash Flow | $36 | $435 | + Principal Reduction | $87 | $1,045 | + First-Year Appreciation | $685 | $8,214 | = Gross Equity Income | $808 | $9,694 | + Tax Savings | $77 | $927 | = GEI w/Tax Savings | $885 | $10,621 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 75% | 0% | Loan Amount | $102,675 | $0 | Monthly Payment | $682.41 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.990% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 1.05 | Annual Gross Rent Multiplier | 9 | Monthly Gross Rent Multiplier | 112 | Capitalization Rate | 6.3% | Cash on Cash Return | 1% | Total Return on Investment | 23% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | 8% | Maintenance Percentage | 8% |
Comments |
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Property was rehabbed in 2016 and renters are in place! | *Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
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