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Updated over 4 years ago on . Most recent reply
Ankeny SFR Househack Analysis
| 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.
Most Popular Reply
i think you could rent each room out for a bit more based on https://www.roomies.com/ankeny... this is one site of course so it's not enough to fully justify it but it's a start, with the current numbers if it's fully rented out then i agree that would be a nice start, as for house hacking it's not bad but i personal would either raise the price of each room or buy a lower priced home so my monthly expenses go down.i think you're looking to bear the loss on the house hacking end for a few years then fully rent it out which doesn't sound bad, because in the end you'll own a property that will cash flow once fully rented out.