Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated about 4 years ago on . Most recent reply
practice analyzing deal # 14
| Price | 1% rule = | desired rent | |||||
| 230,000 | 0.01 | 2300 | |||||
| Des Moines, IA 50313 | |||||||
| price | 230,000 | ||||||
| closing co | 2600 | ||||||
| monhrent | 2,200.00 | house hacking duplex | |||||
| repairs | 2000 | cosmetic | |||||
| total cost | 236,935 | ||||||
| Loans | |||||||
| price | 230,000 | Down % | | |||||
| downpay | 11500 | 5% | FHA | ||||
| total loan | 218,500 | ||||||
| Money Needed = | 18,435 | ||||||
| MONTHLY ESPENSES | |||||||
| PAYMENT | $979 | ||||||
| tax | $334 | M insure | H insure | ||||
| insurance | $219 | 138 | 81 | ||||
| vacancy | 110 | 5% | |||||
| repairs | 154 | 7% | |||||
| management | 0 | 0% | |||||
| CapEx | 275 | 12.50% | |||||
| utilities | 264 | 12.00% | |||||
| TOTAL | $2,335 | must pay $1,796 | reserves $539 | ||||
| EVALUATION | |||||||
| MONTHLY INCOME = | -135.00 | ||||||
| YEARLY CASH FLOW= | -1620 | ||||||
| CASH ON CASH = | -8.787632221% | 8%+ = good | 15%+ = amazing | ||||
| last sell price | 2/24/2017 Sold $62,750 |
Most Popular Reply
@Jaron Walling
Phew! I wasn’t sure but I had a lot of Concerns while I was analyzing it as well
originally I was going to Analyze it as a house hack but I gave up,
The rent came from what the agent said it was renting for
As for the 3.5 increase in price am guessing it’s the current seller market and And perhaps some wishful thinking.