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Updated over 4 years ago,
House Fishing [Deal Analysis]
PROPERTY INFO | |
Property Address | 1904 15th Ave S. MPLS 55404 |
MLS# | 5575498 |
Number of Units (Duplex, Triplex, 4plex) | 4 |
Crime Rating (Low/Medium/High) | High |
Property Listing Price | $ 264,900.00 |
Rehab Needed? (None/Light/Medium/Heavy/Full) | Heavy |
Square Footage | 3,000 |
Rehab Price/Square Foot (Refer to Key on Right) | $ 35.00 |
Total Rehab Estimate | $ 105,000.00 |
Total Cost (Purchase + Rehab) | $ 369,900.00 |
MINIMUM Down Payment Required for Purchase | $ 12,946.50 |
Conventional Loan Amount (Total - Down payment) | $ 356,953.50 |
FULL OCCUPANCY CASH FLOW | |
Est. Monthly Rent (using www.myrentrates.com) | $ 4,200.00 |
1% Rule (Rent should be 1% of Purchase + Rehab) | $ 3,699.00 |
Does this PASS the 1% Rule? | YES |
Est. Monthly Payment (PITI + PMI) - Mortg. Calculator | $ 2,556.99 |
Est. Monthly OpEx (PITI + PMI + Utilities + Reserves) | $ 3,784.99 |
Est. Monthly Cash flow (Rent - OpEx) | $ 415.01 |
CoCRoI | 38.5% |
Reserves (19%) = $798
Utilities: [Water & Sewer = $200] + [Garbage = $90] + [Shoveling/Lawncare = $140] = $430
Full Occupancy Rent assumes the following rates: 3br = $1400, 2br = $1200, 1br = $800, 1br = $800
HOUSEHACKING CASH FLOW | |
Est. Monthly Rents | $ 3,600.00 |
1% Rule | $ 3,699.00 |
Does this PASS the 1% Rule? | NO |
Est. Monthly Payment | $ 2,556.99 |
Est. Monthly OpEx | $ 3,784.99 |
Est. Monthly Cash flow | $ (44.99) |
CoCRoI | -4.2% |