Amortized Over:15 years Loan Interest Rate:5.500%Monthly
P&I:$790.53Total Cash Needed By Borrower:
$36,250.00
Monthly Expenses: $1,519.86 Monthly Cashflow: $325.14 Pro Forma Cap Rate: 10.38% NOI: $13,388.00 Total Cash Needed: $36,250.00 Cash on Cash ROI: 10.76%
Is this a Turn-key property? Only $1,500 in Rehab. Purchase and ARV are the same?! What are you using for Comps to arrive at $129,000 for ARV? What are current Rents/Income for the property? Are they below Market rates? They would need to be below Market to justify paying more than ARV. Also it would help to see what you are including in your expenses. Without more details I would also pass on this too.