Updated over 10 years ago on .
Pre rehab cash deal for a rental with 23k equity and 11% ROI in Moline, IL
3 bed, 1 bath, detached 2 car garage, 1,014 sq ft, built 1892. Closing date: 7/17/2015. Massive equity for cash buyers on this deal.
Interior Video Walk-Through (Pending)
Exterior Video Walk-Through (Pending)
Price: $20,200
Rehab: $30,000
Costs to Carry: $1,000
Closing Costs: $2,000
Total Project Expected: $53,200
ARV: $76,284
Rental Projections
Monthly Rent: $850
Taxes: $119
Management: $68
Vacancy: $43
Insurance: $83
Reserve: $43
Net: $496
Monthly x 12: $5,950
Strictly Cash on Cash ROI: 11.18%
Financed/Refinanced 80%
Down Payment: $10,640.00
Mortgage Interest Rate: 5%
Mortgage Amortization: 25
Mortgage Monthly Payment: $248.80
Net Cash Flow Less Mortgage: $247.01
Net Net x 12: $2,964
Financed Cash on Cash ROI: 27.86%
Comps
846 27th St Sold 82K 4/15 (74.68)
2/2 1098 sq ft
2 story brick built 1939
basement/unsure of garage
.4 miles away
1050 29th St Sold $75100 3/15 (75.78)
2/1 991 sq ft
Ranch Frame built 1964
crawl space/ attached 1 car
.8 miles away