Property Information

SOLD
Great Investment Opportunity
Merrillville, IN 46410
3 bedroom/ 1 bath home built in 1941
Square Feet1,360
Initial Market Value$114,900
Purchase Price$114,900
Downpayment$28,725
Loan Origination Fees$862
Depreciable Closing Costs$5,745
Other Closing Costs and Fixup$0
Initial Cash Invested$35,332
Cost per Square Foot$84
Monthly Rent per Square Foot$0.94
IncomeMonthlyAnnual
Gross Rent$1,280$15,360
Vacancy Losses($102)($1,229)
Operating Income$1,178$14,131
ExpensesMonthlyAnnual
Property Taxes($254)($3,045)
Insurance($48)($575)
Management Fees($94)($1,130)
Leasing/Advertising Fees$0$0
Association Fees$0$0
Maintenance($102)($1,229)
Other$0$0
Operating Expenses($498)($5,979)
Net PerformanceMonthlyAnnual
Net Operating Income$679$8,153
- Mortgage Payments($424)($5,087)
= Cash Flow$255$3,065
+ Principal Reduction$121$1,453
+ First-Year Appreciation$575$6,894
= Gross Equity Income$951$11,412
+ Tax Savings$0$0
= GEI w/Tax Savings$951$11,412
Mortgage InfoFirstSecond
Loan-to-Value Ratio75%0%
Loan Amount$86,175$0
Monthly Payment$423.93$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate4.250%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.60
Annual Gross Rent Multiplier7
Monthly Gross Rent Multiplier90
Capitalization Rate7.1%
Cash on Cash Return9%
Total Return on Investment32%
Total ROI with Tax Savings32%
Assumptions
Real Estate Appreciation Rate6%
Vacancy Rate8%
Management Fee8%
Maintenance Percentage8%
Comments
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.