House Fishing [Minneapolis Househack Deal Analysis]

[AJ Smith]

PROPERTY INFO
Property Address	1123 25th Ave N, MPLS 55411
MLS#	5609309
Number of Units (Duplex, Triplex, 4plex)	2
Crime Rating (Low/Medium/High)	Medium
Property Listing Price	$ 210,000.00
Rehab Needed? (None/Light/Medium/Heavy/Full)	Medium
Square Footage	1,492
Rehab Price/Square Foot (Refer to Key on Right)	$ 25.00
Total Rehab Estimate	$ 37,300.00
Total Cost (Purchase + Rehab)	$ 247,300.00
MINIMUM Down Payment Required for Purchase	$ 8,655.50
Conventional Loan Amount (Total - Down payment)	$ 238,644.50
FULL OCCUPANCY CASH FLOW
Est. Monthly Rent (using www.myrentrates.com)	$ 2,800.00
1% Rule (Rent should be 1% of Purchase + Rehab)	$ 2,473.00
Does this PASS the 1% Rule?	YES
Est. Monthly Payment (PITI + PMI) - Mortg. Calculator	$ 1,641.70
Est. Monthly OpEx (PITI + PMI + Utilities + Reserves)	$ 2,598.70
Est. Monthly Cash flow (Rent - OpEx)	$ 201.30
CoCRoI	27.9%

HOUSEHACKING CASH FLOW
Est. Monthly Rents	$ 2,100.00
1% Rule	$ 2,473.00
Does this PASS the 1% Rule?	NO
Est. Monthly Payment	$ 1,641.70
Est. Monthly OpEx	$ 2,598.70
Est. Monthly Cash flow	$ (358.70)
CoCRoI	-49.7%

ASSUMPTIONS

Utilities (Varies by Property)
Electricity
Water & Sewer		225.00
Garbage		60.00
Shoveling/Lawn Care		140
Total		$ 425.00
Reserves
Vacancy (%)	5.00%	$ 140.00
Repairs & Maintenance (%)	7.00%	$ 196.00
CapEx (%)	7.00%	$ 196.00
Management Fees (%)		$ -
Total		$ 532.00

Successful househackers - would love to get your feedback.