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1116 Millbank Dr, Matthews, NC 28104

3 beds • 2 baths • 2077 sqft

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This property looks like a bad Airbnb investment with a projected -9.51% first-year return on $121k initial cash invested.

-9.51%

Cash On Cash

3.96%

Cap Rate

0.67

DSCR

$3,824

Rent

-$960

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$3,824 income − $4,784 expenses = $960 out of pocket

Income$3,824Out of Pocket$960Mortgage P&I$2,42863%Property Taxes$2797%Insurance$1755%HOA$662%Management$57415%CapEx$1534%Maintenance$1534%Other$95625%

Investment Breakdown

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Purchase Price

$491k

Downpayment

20.0%

Interest Rate

6.3%

Mortgage Duration

30yr.

Cash To Invest

Total

$121k

Downpayment

20%

$98,240

Closing costs

1%

$4,912

Rehab

0%

$0

Furnishing

4%

$18,000

Cashflow

Total Income

$3,824

Total Expenses

$4,784

Mortgage P&I

63%

$2,428

Property Taxes

7%

$279

Home Insurance

5%

$175

HOA

2%

$66

Property Management

15%

$574

CapEx

4%

$153

Vacancy

0%

$0

Maintenance

4%

$153

Other

25%

$956

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