Turnkey 8 plex
Mishawaka, IN 46544
15bd • 11ba • Built: 1912 • Remodeled: 2024
Completely turnkey 8 plex A area
| Estimated Square Feet | 9,000 | | Initial Market Value | $1,100,000 | | Purchase Price | $1,100,000 | | Downpayment | $275,000 | | Loan Origination Fees | $0 | | Depreciable Closing Costs | $22,000 | | Other Costs and Fixup | $0 | | Approximate Cash Invested | $297,000 | | Cost per Square Foot / per Bedroom | $122 / $73,333 | | Monthly Rent per SQFT / per Bedroom | $1.01 / $607 |
| Projected Income | Monthly | Annual |
|---|
| Projected Rent | $9,100 | $109,200 | | Vacancy Losses | ($728) | ($8,736) | | Operating Income | $8,372 | $100,464 |
| Estimated Expenses | Monthly | Annual |
|---|
| Property Taxes | ($458) | ($5,500) | | Insurance | ($367) | ($4,400) | | Management Fees | ($670) | ($8,037) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($455) | ($5,460) | | Other (Utilities, Supplies, etc.) | ($91) | ($1,092) | | Operating Expenses | ($2,041) | ($24,489) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $6,331 | $75,975 | | - Mortgage Payments | ($5,156) | ($61,875) | | = Cash Flow | $1,175 | $14,100 | | + Principal Reduction | $0 | $0 | | + Inflation Induced Debt Destruction® (IIDD) - Beta | $2,063 | $24,750 | | + First-Year Appreciation | $4,583 | $55,000 | | = Gross Equity Income | $7,821 | $93,850 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | N/A | | Loan Amount | $825,000 | N/A | | Monthly Payment | $5,156.25 | N/A | | Loan Type | Interest Only Fixed | N/A | | Term | 10 Years | N/A | | Nominal / Real Interest Rate | 7.500% / 4.500% | N/A | | Monthly PMI | $0 | N/A |
| Empowered Investor® Indicators | |
|---|
| Rent-to-Value Ratio™ (RV Ratio™) | 0.8% | | Debt Coverage Ratio | 1.23 | | Annual Gross Rent Multiplier | 10 | | Capitalization Rate | 6.9% | | Cash on Cash Return | 5% | | Return on Investment | 23% | | Return on Investment with IIDD | 32% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions & Projections | |
|---|
| Projected Appreciation Rate | 5% | | Projected Inflation Rate | 3% | | Vacancy Rate | 8% | | Management Fee | 8% | | Maintenance Percentage | 5% |
| Comments |
|---|
| down to the studs, new everything 8 plex near River district in Mishawaka, IN. Fantastic location and long term cash flow property. major development nearby |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
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