Property details
Proforma Turnkey End Buyer
Purchase & Financing
| Purchase price | $180,900 |
| Closing costs | $3,618 |
| Down payment (34%) | $61,506 |
| Loan amount | $119,394 |
| Loan points | $2,388 |
| Interest rate | 6.50% |
| Loan term | 30 years |
| Total out of pocket | $67,512 |
Income & Expenses
| Monthly | Annual | |
|---|---|---|
| Gross rent | $2,000 | $24,000 |
| Vacancy | ($40) | ($480) |
| Property taxes | ($118) | ($1,414) |
| Insurance | ($100) | ($1,200) |
| Maintenance | ($59) | ($706) |
| Utilities | ($25) | ($300) |
| Net operating income | $1,383 | $16,600 |
| Mortgage (P&I) | ($755) | ($9,056) |
| Net cash flow | $629 | $7,545 |
View full proforma & projections
Projections are based on current rent, taxes, insurance and financing assumptions and are estimates only. Verify all figures independently before investing.
About this property
It is fully furnished and rented to a construction crew for $1,800 a month from March 1st to the end of December. The price includes $42,000 worth of furnishings. January-February we typically do it as a short term rental, and then March-December we rent it to contractors. The same contracting crew will be back again March 1st and have agreed to pay $2,000 a month.
Older appraisal came in at $160k, so you may need to come to the table with extra money, which is reflected in the financing numbers.
This 4/2 house is conveniently located in a great location right in the heart of town walking distance to St. Ambrose University, Palmer University, Aldi, coffee shops and restaurants. Pretty much everything is new! This renovation turned out great!