First out of state investment

[Kunal Lakhwani]

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $142,000
Cash invested: $37,000

Numbers-
Purchase price: $142,000
Initial investment (inspection, down pymnt, closing costs etc.): $37,000
Loan amount (80% LTV): $110,400
Interest rate: 3.625%
Monthly payment (principal, interest, taxes, insurance): $643
Monthly rent (gross income): $1350
Property management: 8% ($108)
Vacancy: 5% ($67.5)
Maintenance: 5% ($67.5)
CapEx: 5% ($67.5)
Monthly cashflow (net income after all expenses and reserves): $366
Annual income (net): $4400
Principal paydown: $2200