This cozy single family home located in West Mifflin is an ideal opportunity for a cash-out-refinance rental property investment. Easy access to the Waterfront in Homestead and to Downtown Pittsburgh, with some updates, this home can be a well preforming addition to your rental portfolio.
Rent: $650/month * 12 = $7,800
Insurance: estimate $700/12=$58.34
Bathroom renovation $5,000
Garage Door $1500
Kitchen Upgrades $2000
Total Repairs = $9,500
25% Discount on ARV (Loan Amount): $33,750
20yr note at 4.5%
Monthly P&I: $213.52
Monthly Expenses (loan payment+management+maintenance): $369.36
Monthly positive cashflow: ($650-$369.36) $280.64/month
Positive Cash Flow yearly: $3,367.68
Cash Investment needed: $33,500
Cash-out-Refinance: Zero Cash Left in the transaction after permanent loan established.