$165,388
2046 W 2nd St
Davenport IA, 52802
Financial Returns
FinancingCash Flow/mo: $667
CashCash Flow/mo: $1,427
31.55%IRR
10.10%CAP Rate
17.60%Cash On Cash
$19,612Equity
Property Information
- Beds: 4
- Baths: 2
- Sq Feet: 2,266
- Year: 1880
- Monthly Rent: $1,750
- Property Taxes: $1,638
- Annual HOA: $0
Duplex in very good condition! Not recently renovated, but overall in good condition. New roof in 2013, new deck in 2018, new basement windows and frames, some new vinyl windows, exterior painted within the last 5 years, new steel doors.
Owner occupant will move out at closing, and then we can get the units rented quickly.
*FREE PROPERTY MANAGEMENT FOR THE FIRST 12 MONTHS!
Financial Projections
Debt (123k, 119k, 116k, 104k) Equity (47k, 50k, 54k, 65k) Appreciation (9k, 29k, 51k, 118k) Cash Positioning (8k, 26k, 45k, 105k)
Financing Assumptions
| Loan Amount | $124,041 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6.2% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $760 |
Initial Investment
| Down Payment (25%) | $41,347 |
| Rehab Amount | $0 |
| Est Closing Cost (1%) | $1,654 |
| Points (2%) | $2,481 |
| Total Out Of Pocket | $45,482 |
Property KPI Without Financing
| Annual Cash Flow | $17,122 |
| All In Cost | $169,523 |
| Cap Rate | 10.1% |
Property KPI With Financing
| Annual Cash Flow | $8,006 |
| Total Out Of Pocket | $45,482 |
| Cash On Cash | 17.6% |
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 | 17.62% | 17.62% | 17.62% | 17.62% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $1,750 | $21,000 | $22,279 | $23,636 | $27,400 |
| Vacancy Rate (1.03%) | $18 | $216 | $229 | $243 | $282 |
| Gross Rental Income | $1,732 | $20,784 | $22,050 | $23,393 | $27,118 |
| Expenses | |||||
| Estimated Annual Property Taxes | $137 | $1,638 | $1,738 | $1,844 | $2,137 |
| Estimated Annual Homeowners Insurance | $117 | $1,400 | $1,485 | $1,576 | $1,827 |
| Maintenance & Repairs (3%) | $52 | $624 | $661 | $702 | $814 |
| 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 | $305 | $3,662 | $3,885 | $4,121 | $4,777 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $1,427 | $17,122 | $18,165 | $19,272 | $22,341 |
| Net Cashflow | $17,122 | $18,165 | $19,272 | $22,341 | |
| Cap Rate | 10.1% | 10.72% | 11.37% | 13.18% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $1,427 | $17,122 | $18,165 | $19,272 | $22,341 |
| Mortgage | $760 | $9,117 | $9,117 | $9,117 | $9,117 |
| Net Cashflow | $8,006 | $9,049 | $10,155 | $13,224 | |
| Cash On Cash | 17.6% | 19.9% | 22.33% | 29.08% | |
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.