$775,000
1215 E 10th St
Davenport IA, 52803
Financial Returns
FinancingCash Flow/mo: $2,503
CashCash Flow/mo: $6,177
25.64%IRR
8.92%CAP Rate
12.54%Cash On Cash
-$775,000Equity
Property Information
- Beds: 11
- Baths: 11
- Sq Feet: 8,250
- Year: 1915
- Monthly Rent: $8,465
- Property Taxes: $8,088
- Annual HOA: $0
11PLEX fully rented and cash flowing! Each unit is rented below market rent about $100 per unit, so there is room to increase rents. Tenants are on month to month leases as the owner self manages.
We don't have very many photos, but every unit is identical. It is in good condition, but not everything is new.
Financial Projections
Debt (575k, 560k, 544k, 493k) Equity (220k, 234k, 250k, 302k) Appreciation (0k, 0k, 0k, 0k) Cash Positioning (30k, 97k, 173k, 409k)
Financing Assumptions
| Loan Amount | $581,250 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6.5% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $3,674 |
Initial Investment
| Down Payment (25%) | $193,750 |
| Rehab Amount | $0 |
| Est Closing Cost (1%) | $7,750 |
| Points (2%) | $11,625 |
| Total Out Of Pocket | $213,125 |
Property KPI Without Financing
| Annual Cash Flow | $74,121 |
| All In Cost | $794,375 |
| Cap Rate | 9.33% |
Property KPI With Financing
| Annual Cash Flow | $30,034 |
| Total Out Of Pocket | $213,125 |
| Cash On Cash | 14.09% |
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 | 26.73% | 26.73% | 26.73% | 26.73% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $8,465 | $101,580 | $107,766 | $114,329 | $132,539 |
| Vacancy Rate (0.41%) | $35 | $420 | $446 | $473 | $548 |
| Gross Rental Income | $8,430 | $101,160 | $107,321 | $113,856 | $131,991 |
| Expenses | |||||
| Estimated Annual Property Taxes | $674 | $8,088 | $8,581 | $9,103 | $10,553 |
| Estimated Annual Homeowners Insurance | $458 | $5,500 | $5,835 | $6,190 | $7,176 |
| Maintenance & Repairs (5%) | $422 | $5,058 | $5,366 | $5,693 | $6,600 |
| Estimated Annual Prop Mgmt Fee (8%) | $674 | $8,093 | $8,586 | $9,109 | $10,559 |
| Estimated Annual HOA Dues | $0 | $0 | $0 | $0 | $0 |
| Utilities | $25 | $300 | $318 | $338 | $391 |
| Reserves | $0 | $0 | $0 | $0 | $0 |
| Total Expenses | $2,253 | $27,039 | $28,685 | $30,432 | $35,280 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $6,177 | $74,121 | $78,635 | $83,424 | $96,711 |
| Net Cashflow | $74,121 | $78,635 | $83,424 | $96,711 | |
| Cap Rate | 9.33% | 9.9% | 10.5% | 12.17% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $6,177 | $74,121 | $78,635 | $83,424 | $96,711 |
| Mortgage | $3,674 | $44,087 | $44,087 | $44,087 | $44,087 |
| Net Cashflow | $30,034 | $34,548 | $39,337 | $52,625 | |
| Cash On Cash | 14.09% | 16.21% | 18.46% | 24.69% | |
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.