$1,100,000
315 W 3rd St
Mishawaka IN, 46544
Financial Returns
FinancingCash Flow/mo: $2,071
CashCash Flow/mo: $7,285
20.43%IRR
7.27%CAP Rate
6.40%Cash On Cash
-$1,100,000Equity
Property Information
- Beds: 16
- Baths: 8
- Sq Feet: 4,484
- Year: 1912
- Monthly Rent: $9,099
- Property Taxes: $4,999
- Annual HOA: $0
FULLY RENOVATED TOP TO BOTTOM 8PLEX! Over $900k in the renovations! Everything new top to bottom.
Apt 1 - 11/1/24 - 11/30/25 - $1,195
Apt. 2 - 12/19/25 - 4/30/27 - $1,195
Apt. 3 - 10/2/24 - 10/31/25 - $1,295
Apt. 4 - 11/20/24 - 6/30/25 - $1,195
Apt. 5 - 1/14/26 - 5/31/27 - $995
Apt. 6 - 5/30/25 - 4/30/26 - $1,195
Apt. 7 - 9/27/24 - 10/31/26 - $1,034.80
Apt. 8 - 10/1/25 - 9/30/26 - $995
Financial Projections
Debt (816k, 795k, 772k, 699k) Equity (312k, 332k, 355k, 428k) Appreciation (0k, 0k, 0k, 0k) Cash Positioning (25k, 82k, 151k, 376k)
Financing Assumptions
| Loan Amount | $825,000 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6.5% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $5,215 |
Initial Investment
| Down Payment (25%) | $275,000 |
| Rehab Amount | $0 |
| Est Closing Cost (1%) | $11,000 |
| Points (2%) | $16,500 |
| Total Out Of Pocket | $302,500 |
Property KPI Without Financing
| Annual Cash Flow | $87,423 |
| All In Cost | $1,127,500 |
| Cap Rate | 7.75% |
Property KPI With Financing
| Annual Cash Flow | $24,848 |
| Total Out Of Pocket | $302,500 |
| Cash On Cash | 8.21% |
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 | 19.72% | 19.72% | 19.72% | 19.72% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $9,099 | $109,188 | $115,838 | $122,892 | $142,466 |
| Vacancy Rate (0.26%) | $24 | $287 | $304 | $323 | $374 |
| Gross Rental Income | $9,075 | $108,901 | $115,533 | $122,569 | $142,091 |
| Expenses | |||||
| Estimated Annual Property Taxes | $417 | $4,999 | $5,303 | $5,626 | $6,523 |
| Estimated Annual Homeowners Insurance | $333 | $4,000 | $4,244 | $4,502 | $5,219 |
| Maintenance & Repairs (3%) | $272 | $3,267 | $3,466 | $3,677 | $4,263 |
| Estimated Annual Prop Mgmt Fee (8%) | $726 | $8,712 | $9,243 | $9,806 | $11,367 |
| Estimated Annual HOA Dues | $0 | $0 | $0 | $0 | $0 |
| Utilities | $42 | $500 | $530 | $563 | $652 |
| Reserves | $0 | $0 | $0 | $0 | $0 |
| Total Expenses | $1,790 | $21,478 | $22,786 | $24,174 | $28,024 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $7,285 | $87,423 | $92,747 | $98,395 | $114,067 |
| Net Cashflow | $87,423 | $92,747 | $98,395 | $114,067 | |
| Cap Rate | 7.75% | 8.23% | 8.73% | 10.12% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $7,285 | $87,423 | $92,747 | $98,395 | $114,067 |
| Mortgage | $5,215 | $62,575 | $62,575 | $62,575 | $62,575 |
| Net Cashflow | $24,848 | $30,172 | $35,821 | $51,493 | |
| Cash On Cash | 8.21% | 9.97% | 11.84% | 17.02% | |
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.