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1209 Morris Dr, Niles, MI 49120

3 beds • 2 baths • 2074 sqft

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This property looks like a bad Airbnb investment with a projected -11.67% first-year return on $134k initial cash invested.

-11.67%

Cash On Cash

3.63%

Cap Rate

0.59

DSCR

$3,830

Rent

-$1,300

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$3,830 income − $5,130 expenses = $1,300 out of pocket

Income$3,830Out of Pocket$1,300Mortgage P&I$2,81373%Property Taxes$2867%Insurance$1935%Management$57415%CapEx$1534%Maintenance$1534%Other$95825%

Investment Breakdown

|

Purchase Price

$551k

Downpayment

20.0%

Interest Rate

6.6%

Mortgage Duration

30yr.

Cash To Invest

Total

$134k

Downpayment

20%

$110k

Closing costs

1%

$5,509

Rehab

0%

$0

Furnishing

3%

$18,000

Cashflow

Total Income

$3,830

Total Expenses

$5,130

Mortgage P&I

73%

$2,813

Property Taxes

7%

$286

Home Insurance

5%

$193

HOA

0%

$0

Property Management

15%

$574

CapEx

4%

$153

Vacancy

0%

$0

Maintenance

4%

$153

Other

25%

$958

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