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Updated over 4 years ago,
St Paul Househack Analysis
Property Address | 588 Lawson Ave E, STP 55130 |
MLS# | 5610704 |
Number of Units (Duplex, Triplex, 4plex) | 2 |
Crime Rating (Low/Medium/High) | Medium |
Property Listing Price | $ 249,900.00 |
Rehab Needed? (None/Light/Medium/Heavy/Full) | None |
Square Footage | 1,920 |
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MINIMUM Down Payment Required for Purchase (5%) | $ 12,495.00 |
Conventional Loan Amount (Total - Down payment) | $ 237,405.00 |
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Utilities (Varies by Property) | ||
Electricity | ||
Water & Sewer | 100.00 | |
Garbage | 60.00 | |
Shoveling/Lawn Care | 140 | |
Total | $ 300.00 |
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FULL OCCUPANCY CASH FLOW | |||||||||||||||||
Est. Monthly Rent (using www.myrentrates.com) | $ 2,480.00 | ||||||||||||||||
1% Rule (Rent should be 1% of Purchase + Rehab) | $ 2,499.00 | ||||||||||||||||
Does this PASS the 1% Rule? | NO | ||||||||||||||||
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Est. Monthly Payment (PITI + PMI) - Mortg. Calculator | $ 1,600.88 | ||||||||||||||||
Est. Monthly OpEx (PITI + PMI + Utilities + Reserves) | $ 2,372.08 | ||||||||||||||||
Est. Monthly Cash flow (Rent - OpEx) | $ 107.92 | ||||||||||||||||
CoCRoI | 10.4% |
HOUSEHACKING CASH FLOW | |
Est. Monthly Rents | $ 1,902.50 |
1% Rule | $ 2,499.00 |
Does this PASS the 1% Rule? | NO |
Est. Monthly Payment | $ 1,600.88 |
Est. Monthly OpEx | $ 2,372.08 |
Est. Monthly Cash flow | $ (329.58) |
CoCRoI | -31.7% |
Deal would pass muster ($100/door) if I lowered reserves to 15% instead of 19%, but trying to be more conservative with my reserves, so this deal is a no go for me.