Updated about 5 years ago on .
practice analyzing deal #7
| Price | 1% rule = | desired rent | |||||
| 170,000 | 0.01 | 1700 | |||||
| Des Moines, IA 50316 | |||||||
| price | 170,000 | MIP 1.75% | total closing | ||||
| closing co | 2500 | 2975 | 5475 | ||||
| monhrent | 2,000.00 | fully rented | |||||
| repairs | 1000 | cosmetic | |||||
| total cost | 178,475 | ||||||
| Loans | |||||||
| price | 170,000 | Down % | | |||||
| downpay | 5950 | 3.50% | FHA | ||||
| total loan | 164,050 | ||||||
| Money Needed = | 16,313 | ||||||
| MONTHLY ESPENSES | |||||||
| PAYMENT | $718 | ||||||
| tax | $246 | M insure | H insure | ||||
| insurance | $194 | 134 | 60 | ||||
| vacancy | 100 | 5% | |||||
| repairs | 140 | 7% | |||||
| management | 0 | 0% | |||||
| CapEx | 250 | 12.50% | |||||
| utilities | 240 | 12.00% | |||||
| TOTAL | $1,888 | ||||||
| EVALUATION | |||||||
| MONTHLY INCOME = | 112.00 | ||||||
| YEARLY CASH FLOW= | 1344 | ||||||
| CASH ON CASH = | 8.238827929% | 8%+ = good | 15%+ = amazing | ||||
| price for good cash on cash = | already good | ||||||
| for amazing cash on cash= | put down 20% | ||||||
| if repairs exceed $2000 cash on cash less than good |