This property is no longer available! Sold.

indy2

This property is available now! It is fully turnkey, meaning completely rehabbed with tenants and property management in place. The turnkey supplier has an excellent reputation (ask Jay Dao from the Testimonials!)

Location: Indianapolis, IN. Single-Family Home. Built In: 1950

Purchase price: $64,000 (not a foreclosure, normal sale)

Property info: 3 bedroom, 1 bathroom, 980 square feet

Income

Monthly rent collected: $800

Expenses

Monthly expenses

Property taxes: $20.50

Insurance: $45

Property management fees: $80

Monthly expenses (conservatively estimated)

Vacancy (6%): $48

Repairs (6%): $48

Total Monthly Expenses- $241.50

Net Income = Income – Expenses =  $558.50 ($654.50 with no vacancy or repairs)

 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 10.23%

Cash-on-cash return =

Depends on your leveraging.

 

Are you thinking the cap rate is lower than what you are interested in? Check out one of Ali’s articles from BiggerPockets that hits this exact topic!

The 2% Rule: Fact, Fiction, or Feasible?

Leave a Comment

Your message.

Who are you?