I did use the rental calculator and I thought it shared the analysis in this forum. below is the info, I copied and paste the information below.
Ok, I found this property that was reduced in price about 44.55%, the home is a 3/2 1429 sq ft home with 2 kitchens, on 1/2 acre. I haven't actually seen the inside of it yet bc I am trying to see if the number are close to a good cashflow.
In the area a 3/2 rents for 1600.00, I also did the comps however, I am unable to located it now. I think that is where I am not too sure if I am hitting the numbers correctly. If there is no properties to compare how should I approach this ARV?
I also noticed that the house possible needs kitchen work and the bathrooms do too. Anyways let me know what other information you need.
Other Actions
$1,500.00 Monthly Income
$786.67 Monthly Expenses
$713.33 Monthly Cashflow
12.53% Pro Forma Cap
$10,024.00 NOI
$18,480.00 Total Cash Needed
46.32% Cash on Cash ROI
18.26% Purchase Cap Rate
Expenses Income 50% Rule
| Total operating expenses: | $664.67 |
| Mortgage expenses: | $122.00 |
| Vacancy: | $75.00 | Repairs: | $75.00 |
| CapEx: | $75.00 | Insurance: | $150.00 |
| Management: | $150.00 | P&I: | $122.00 |
| Property Taxes: | $139.67 |
$54,900 Purchase Price
| Purchase Closing Costs | $2,500.00 |
| Estimated Repairs | $5,000.00 |
| Total Project Cost | $62,400.00 |
| After Repair Value | $80,000.00 |
| Down Payment | $10,980.00 |
| Loan Amount | $43,920.00 |
| Loan Points | $0.00 |
| Amortized Over | 30 years |
| Loan Interest Rate |
| Monthly P&I | $122.00 |
| Total Cash Needed | $18,480.00 |
