Ankeny SFR Househack Analysis

[AJ Smith]

PROPERTY INFO
Property Address	1204 Southeast Belmont Drive, Ankeny, Iowa 50021
MLS#
Property Listing Price	$ 223,900.00
Number of Units (Duplex, Triplex, 4plex)	1
Square Footage	1,531
Rehab Needed? (None/Light/Medium/Heavy/Full)	None
Bedrooms/Bathrooms	4/2
Crime Level (Low/Medium/High)	Low
Your Offer Price	$ 223,900.00
Rehab Price/Square Foot (Refer to Key on Right)	$ -
Total Rehab Estimate	$ -
Total Cost (Purchase + Rehab)	$ 223,900.00
MINIMUM Down Payment Required for Purchase	$ 11,195.00
Conventional Loan Amount (Total - Down payment)	$ 212,705.00

FULL OCCUPANCY CASH FLOW
Est. Monthly Rent (using Rentometer)	$ 2,080.00
1.2% Rule (Rent should be 1.2% of Purchase + Rehab)	$ 2,239.00
Does this PASS the 1% Rule?	NO
Est. Monthly Payment (PITI + PMI) - Mortg. Calculator	$ 1,501.53
Est. Monthly OpEx (PITI + PMI + Utilities + Reserves)	$ 1,813.53
Est. Monthly Cash flow (Rent - OpEx)	$ 266.47
CoCRoI	28.6%

HOUSEHACKING CASH FLOW
Est. Monthly Rents	$ 1,200.00
1.2% Rule	$ 2,686.80
Does this PASS the 1.2% Rule?	NO
Est. Monthly Payment	$ 1,501.53
Est. Monthly OpEx	$ 1,813.53
Est. Monthly Cash flow	$ (613.53)
CoCRoI	-65.8%

Reserves
Vacancy (%)	5.00%	$ 104.00
Repairs & Maintenance (%)	5.00%	$ 104.00
CapEx (%)	5.00%	$ 104.00
Management Fees (%)		$ -
Total		$ 312.00

Looks like a good base hit to me -- something nice to start a real estate portfolio with through househacking.

***Note on Utilities: Assuming tenant will pay utilities (gas, garbage, water, lawncare) once fully occupied and no longer a househack

DSM Realtors, DSM Investors, DSM Househackers, Ankeny Investors ... would love your feedback on this property.