$476,000
3656 Rainbow Dr
Decatur GA, 30034
Financial Returns
FinancingCash Flow/mo: $2,856
CashCash Flow/mo: $5,112
30.81%IRR
10.09%CAP Rate
16.93%Cash On Cash
-$476,000Equity
Property Information
- Beds: 8
- Baths: 8
- Sq Feet: 2,949
- Year: 1971
- Monthly Rent: $8,850
- Property Taxes: $7,600
- Annual HOA: $0
PADSPLIT CO-LIVING OPPORTUNITY! This will have 8 en suites in total. 5 on the main level ,and 3 in the basement (which is quite large). This one is going to need a good bit of work but its going to be a superb padsplit.
These go under contract VERY QUICKLY so get it now before someone else does, and then we wait for the renovation to be completed before we move forward on the purchase.
Financial Projections
Debt (353k, 344k, 334k, 303k) Equity (135k, 144k, 154k, 185k) Appreciation (0k, 0k, 0k, 0k) Cash Positioning (34k, 108k, 190k, 432k)
Financing Assumptions
| Loan Amount | $357,000 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6.5% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $2,256 |
Initial Investment
| Down Payment (25%) | $119,000 |
| Rehab Amount | $0 |
| Est Closing Cost (1%) | $4,760 |
| Points (2%) | $7,140 |
| Total Out Of Pocket | $130,900 |
Property KPI Without Financing
| Annual Cash Flow | $61,346 |
| All In Cost | $487,900 |
| Cap Rate | 12.57% |
Property KPI With Financing
| Annual Cash Flow | $34,268 |
| Total Out Of Pocket | $130,900 |
| Cash On Cash | 26.18% |
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 | 34.36% | 34.36% | 34.36% | 34.36% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $8,850 | $106,200 | $112,668 | $119,529 | $138,567 |
| Vacancy Rate (12%) | $1,062 | $12,744 | $13,520 | $14,343 | $16,628 |
| Gross Rental Income | $7,788 | $93,456 | $99,147 | $105,186 | $121,939 |
| Expenses | |||||
| Estimated Annual Property Taxes | $633 | $7,600 | $8,063 | $8,554 | $9,916 |
| Estimated Annual Homeowners Insurance | $238 | $2,850 | $3,024 | $3,208 | $3,719 |
| Maintenance & Repairs (6%) | $467 | $5,607 | $5,949 | $6,311 | $7,316 |
| Estimated Annual Prop Mgmt Fee (16%) | $1,246 | $14,953 | $15,864 | $16,830 | $19,510 |
| Estimated Annual HOA Dues | $0 | $0 | $0 | $0 | $0 |
| Utilities | $92 | $1,100 | $1,167 | $1,238 | $1,435 |
| Reserves | $0 | $0 | $0 | $0 | $0 |
| Total Expenses | $2,676 | $32,110 | $34,066 | $36,140 | $41,897 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $5,112 | $61,346 | $65,082 | $69,045 | $80,042 |
| Net Cashflow | $61,346 | $65,082 | $69,045 | $80,042 | |
| Cap Rate | 12.57% | 13.34% | 14.15% | 16.41% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $5,112 | $61,346 | $65,082 | $69,045 | $80,042 |
| Mortgage | $2,256 | $27,078 | $27,078 | $27,078 | $27,078 |
| Net Cashflow | $34,268 | $38,004 | $41,967 | $52,964 | |
| Cash On Cash | 26.18% | 29.03% | 32.06% | 40.46% | |
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.