26023 Norfolk St Inkster, MI 48141
2bd, 1ba | 710sqft | Built in 1950
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Initial Investment
$68,660
List Price: $64,000
Purchase Price
$64,000
Down Payment
100%
Rent
$911

Total Return
$24,712
Annualized Return
7.3%
Cap Rate
8.9%
Gross Yield
17.1%
Cash Flow
$5,043
Appreciation
1.4%
Gross Yield
17.1%
 
Cap Rate
8.9%
 
Cash on Cash
7.3%
 
Ann. Return
7.3%
in 5 years
Initial Investment
$68,660
Purchase Price
$64,000
Down Payment
100%
Loan Interest Rate
4.750%
Closing Costs
1.50%
Est. Immediate Costs
$3,700
Total Return
$24,712
Appreciation
1.4%
Net Cash Flow Year 1 Year 3 Year 5 Year 10
Annual $5,043 $5,431 $5,846 $6,824
Monthly $420 $453 $487 $569
Property Value in 2024
$68,583
Loan Balance
$0
Disposition Fees
-$2,400

Sale Proceeds
$66,183
Year 1 Pro-Forma Assumptions
Rent Growth
3.0%
Income
Rent
$10,932
Vacancy Factor
-$547

Expected Rent
$10,385
Expenses
Property Taxes
-$2,100
Property Management
-$831
Leasing Fees
-$260
HOA Fees
-$0
Insurance
-$378
Repairs & Maint. (Reserve)
-$1,151
Operating Expenses
-$4,720

Net Operating Income
$5,666
Capital Expenditures (Reserve)
-$623

Total Unlevered Cash Flow
$5,043
Mortgage
-$0

Total Net Cash Flow
$5,043
Year 1 Year 5 Year 10
Expected Rent $10,385
$865/mo
$11,689
$974/mo
$13,551
$1,129/mo
Property Taxes -$2,100
-$2,219
-$2,533
R&M (Reserve) -$1,151
-$1,295
-$1,502
Other Expenses
Except taxes + R&M
-$1,469
-$1,627
-$1,879
Net Operating Income $5,666
$472/mo
$6,547
$546/mo
$7,637
$636/mo
Cap Ex (Reserve) -$623
-$701
-$813
Total Unlevered CF $5,043
$5,846
$6,824
Loan Payment $0
$0
$0
Total Net Cash Flow $5,043
$420/mo
$5,846
$487/mo
$6,824
$569/mo

Net Cash Flow

Overall Financial Pro Forma
Initial Year Year 1 Year 2 Year 3 Year 4 Year 5
Revenue
Expected Rent $10,385 $10,697 $11,018 $11,348 $11,689
Expenses
Net Operating Income $5,666 $5,876 $6,092 $6,316 $6,547
Return
Levered Cash Flow $5,043 $5,234 $5,431 $5,635 $5,846
Property Purchase And Sale
Net Purchase / Sale Proceeds -$68,660 $66,183
Financing
Debt Service Cash Flow -$64,000 $0 $0 $0 $0 $0