House Fishing [Deal Analysis]

[AJ Smith]

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%