$309,800
2290 Malibu Dr SE
Cleveland TN, 37323
Financial Returns
FinancingCash Flow/mo: $824
CashCash Flow/mo: $2,217
25.22%IRR
8.38%CAP Rate
11.61%Cash On Cash
$10,200Equity
Property Information
- Beds: 4
- Baths: 2
- Sq Feet: 1,548
- Year: 1970
- Monthly Rent: $2,500
- Property Taxes: $610
- Annual HOA: $0
Fully rehabbed and rented DUPLEX! Tenant on top is paying $1,600 and the tenant in the basement is paying $900. Everything is updated including ac unit, water heater, roof, etc.
*FREE PROPERTY MANAGEMENT FOR THE FIRST 12 MONTHS! After that it is a flat $100 fee per month!
Financial Projections
Debt (229k, 223k, 216k, 194k) Equity (88k, 94k, 101k, 123k) Appreciation (16k, 51k, 89k, 205k) Cash Positioning (10k, 32k, 58k, 138k)
Financing Assumptions
| Loan Amount | $232,350 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $1,393 |
Initial Investment
| Down Payment (25%) | $77,450 |
| Rehab Amount | $0 |
| Est Closing Cost (1%) | $3,098 |
| Points (2%) | $4,647 |
| Total Out Of Pocket | $85,195 |
Property KPI Without Financing
| Annual Cash Flow | $26,608 |
| All In Cost | $317,545 |
| Cap Rate | 8.38% |
Property KPI With Financing
| Annual Cash Flow | $9,891 |
| Total Out Of Pocket | $85,195 |
| Cash On Cash | 11.61% |
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 | 9.5% | 9.5% | 9.5% | 9.5% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $2,500 | $30,000 | $31,827 | $33,765 | $39,143 |
| Vacancy Rate (2%) | $50 | $600 | $637 | $675 | $783 |
| Gross Rental Income | $2,450 | $29,400 | $31,190 | $33,090 | $38,360 |
| Expenses | |||||
| Estimated Annual Property Taxes | $51 | $610 | $647 | $687 | $796 |
| Estimated Annual Homeowners Insurance | $108 | $1,300 | $1,379 | $1,463 | $1,696 |
| Maintenance & Repairs (3%) | $74 | $882 | $936 | $993 | $1,151 |
| Estimated Annual Prop Mgmt Fee (0%) | $0 | $0 | $0 | $0 | $0 |
| Estimated Annual HOA Dues | $0 | $0 | $0 | $0 | $0 |
| Utilities | $0 | $0 | $0 | $0 | $0 |
| Reserves | $0 | $0 | $0 | $0 | $0 |
| Total Expenses | $233 | $2,792 | $2,962 | $3,142 | $3,643 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $2,217 | $26,608 | $28,228 | $29,948 | $34,717 |
| Net Cashflow | $26,608 | $28,228 | $29,948 | $34,717 | |
| Cap Rate | 8.38% | 8.89% | 9.43% | 10.93% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $2,217 | $26,608 | $28,228 | $29,948 | $34,717 |
| Mortgage | $1,393 | $16,717 | $16,717 | $16,717 | $16,717 |
| Net Cashflow | $9,891 | $11,512 | $13,231 | $18,001 | |
| Cash On Cash | 11.61% | 13.51% | 15.53% | 21.13% | |
Property Photos
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.