REI Lense

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$2,351 (target)

2908 W Michigan Ave, Midland, TX 79701

3 beds • 2 baths • 1774 sqft

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This property might be a fair Long-Term investment with a projected 5.16% first-year return on $49,980 initial cash invested.

5.16%

Cash On Cash

7.97%

Cap Rate

1.27

DSCR

$2,351

Rent

$215

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$2,351 income − $2,136 expenses = $215 cash flow

Income$2,351Mortgage P&I$1,24853%Property Taxes$1938%Insurance$834%Management$23510%CapEx$1185%Vacancy$1416%Maintenance$1185%Cash Flow$215

Investment Breakdown

|

Purchase Price

$238k

Downpayment

20.0%

Interest Rate

6.8%

Mortgage Duration

30yr.

Cash To Invest

Total

$49,980

Downpayment

20%

$47,600

Closing costs

1%

$2,380

Rehab

0%

$0

Furnishing

0%

$0

Cashflow

Total Income

$2,351

Total Expenses

$2,136

Mortgage P&I

53%

$1,248

Property Taxes

8%

$193

Home Insurance

4%

$83

HOA

0%

$0

Property Management

10%

$235

CapEx

5%

$118

Vacancy

6%

$141

Maintenance

5%

$118

Other

0%

$0

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