Financial Returns
Property Information
- Beds: 8
- Baths: 2
- Sq Feet: 1,923
- Year: 1940
- Monthly Rent: $5,789
- Property Taxes: $4,634
- Annual HOA: $0
This is a Co-Living Padsplit opportunity. The renovation is just finishing up, and photos being done next week. Professionally managed.
$800k homes a few blocks away!
THESE GO UNDER CONTRACT QUICK SO ACT NOW!
-PadSplit is an online platform with thousands of affordable, private rooms for rent. We connect people looking for an affordable place to live with property owners who have private rooms for rent.
-PadSplit was designed for longer-term stays for workers in the community with a minimum commitment of 12 weeks. In some cases, residents commit to longer stays of six to 12 months.
Living in a PadSplit is different from traditional rentals. Members only pay one bill each week, and it covers a private furnished room, all utilities, and free credit reporting. To be approved, you don’t need a minimum credit score, and you won’t have to pay a big security deposit.
Financial Projections
Financing Assumptions
| Loan Amount | $226,500 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6.75% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $1,469 |
Initial Investment
| Down Payment (25%) | $75,500 |
| Rehab Amount | $0 |
| Est Closing Cost (2%) | $6,040 |
| Points (2%) | $4,530 |
| Total Out Of Pocket | $86,070 |
Property KPI Without Financing
| Annual Cash Flow | $41,417 |
| All In Cost | $312,570 |
| Cap Rate | 13.25% |
Property KPI With Financing
| Annual Cash Flow | $23,788 |
| Total Out Of Pocket | $86,070 |
| Cash On Cash | 27.64% |
Swipe the table to see Year 1 to Year 10 →
| Annual Revenue Increase | 3% | 3% | 3% | 3% | |
| Annual Operating Expense Increase | 3% | 3% | 3% | 3% | |
| Annual Expense Ratio | 34.48% | 34.48% | 34.48% | 34.48% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $5,789 | $69,468 | $73,699 | $78,187 | $90,640 |
| Vacancy Rate (9%) | $521 | $6,252 | $6,633 | $7,037 | $8,158 |
| Gross Rental Income | $5,268 | $63,216 | $67,066 | $71,150 | $82,482 |
| Expenses | |||||
| Estimated Annual Property Taxes | $386 | $4,634 | $4,916 | $5,216 | $6,046 |
| Estimated Annual Homeowners Insurance | $152 | $1,825 | $1,936 | $2,054 | $2,381 |
| Maintenance & Repairs (4%) | $211 | $2,529 | $2,683 | $2,846 | $3,299 |
| Estimated Annual Prop Mgmt Fee (19%) | $1,001 | $12,011 | $12,742 | $13,519 | $15,672 |
| Estimated Annual HOA Dues | $0 | $0 | $0 | $0 | $0 |
| Utilities | $67 | $800 | $849 | $900 | $1,044 |
| Reserves | $0 | $0 | $0 | $0 | $0 |
| Total Expenses | $1,817 | $21,799 | $23,126 | $24,535 | $28,442 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $3,451 | $41,417 | $43,940 | $46,615 | $54,040 |
| Net Cashflow | $41,417 | $43,940 | $46,615 | $54,040 | |
| Cap Rate | 13.25% | 14.06% | 14.91% | 17.29% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $3,451 | $41,417 | $43,940 | $46,615 | $54,040 |
| Mortgage | $1,469 | $17,629 | $17,629 | $17,629 | $17,629 |
| Net Cashflow | $23,788 | $26,311 | $28,987 | $36,411 | |
| Cash On Cash | 27.64% | 30.57% | 33.68% | 42.3% | |
Projections assume 3% annual rent growth and 3% annual expense growth, based on the Turnkey End Buyer strategy. All figures are estimates for information only. Verify independently before investing.