11751 Enyart Rd, Symmes Township OH 45140

11751 Enyart Rd, Symmes Township, OH 45140

Singlefamily: 4 bedrooms , 1 bathroom

Year built: 1956, Size: 1477 SF

Investment strategy: Rental Property

Purchase Price$ 265,000

Rent$ 2,800/mo

Monthly Cash Flow$ 1,118

Cash on Cash Return15.44 %

Financial Analysis

Cash on Cash Return	15.44 %
Internal Rate of Return (IRR)	18.43 %
Capitalization Rate	9.89 %
Gross Rent Multiplier (GRM)	7.89
Debt-coverage Ratio (DCR)	2.05
Operating Expense Ratio (OER)	21.98 %

Financial Breakdown

Purchase Price	$ 265,000
Purchase Costs	$ 600
Repair/Construction Costs	$ 20,000
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 285,600
Financing	$ 198,750
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 86,850
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 66,250
Cash During Rehab Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction. Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction.	$ 20,600

Operating Analysis

Rent	$ 2,800/mo
Gross Operating Income (GOI)	$ 33,600
Total Expenses	$ 7,384
Net Operating Income (NOI)	$ 26,216
Annual Debt Service	$ 12,803
Cash Flow Before Taxes (CFBT)	$ 13,413
Income Tax Liability	$ 2,159
Cash Flow After Taxes (CFAT)	$ 11,254

This 4BR, 1BA cape cod is well built w/ tremendous craftmanship by 1 owner. Just waiting for someone to add their own finishing touches. It features a detached garage w/breeze way, overlooking more than .5 acres of flat yard. It has refinished hardwood throughout. The upstairs is giant, ready to be a gorgeous master bedroom or rec room. Multiple offers. Highest and best by Sunday 5/1 5pm. Sellers to review all offers at noon on Monday 5/2. Sellers reserve the right to accept an offer at anytime.

Purchase Price	$ 265,000
Address	11751 Enyart Rd , Symmes Township, 45140, OH
MLS^® #	1736626
Listing Agent	Thomas L Taulbee
Listing Broker	Pivot Realty Group, Llc
Year Built	1956
Type	Singlefamily
Size	1477 SF
Bedrooms	4
Bathrooms	1

Annual Property Operating Data

Incomes		% of GOI
Gross Scheduled Income Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents. Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents.	$ 33,600
Total Gross Income	$ 33,600
Vacancy loss Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants. Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants.	$ 0
Gross Operating Income Gross Operating Income (GOI) An actual income which is expected to be collected in the property. Gross Operating Income (GOI) An actual income which is expected to be collected in the property.	$ 33,600	100.00 %
Expenses Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation). Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation).
Repairs	$ 672	2.00 %
Property tax	$ 3,580	10.65 %
Insurance	$ 792	2.36 %
Trash	$ 540	1.61 %
LAWNCARE	$ 1,800	5.36 %
Total Expenses	$ 7,384	21.98 %
Net Operating Income Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses. Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses.	$ 26,216	78.02 %

Cash Flow (Year 1)

Net Operating Income	$ 26,216	78.02 %
Annual Debt Service	$ 12,803	38.10 %
Cash Flow Before Taxes (CFBT) Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 13,413	39.92 %
Income Tax Liability	$ 2,159	6.43 %
Cash Flow After Taxes (CFAT) Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 11,254	33.49 %

Operating Ratios

Operating Expense Ratio Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI). Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI).	21.98 %
Break-Even Ratio Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less. Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less.	60.08 %

Financial Measures

Net Present Value Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog. Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog.	$ 118,065
Internal Rate of Return Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero. Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero.	18.43 %
Profitability Index Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0 Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0	2.36
Annual Depreciation	$ 7,709

Holding period of 10 years and discount rate of 5.00% were used for calculation of NPV and IRR. The rest of the financial measures are for the 1st year only and therefore don't provide such an exact information.

Investment Return Ratios

Cash on Cash Return Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money. Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money.	15.44 %
Return on Investment Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year. Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year.	24.60 %
Capitalization Rate Capitalization Rate Calculated as ratio of the net operating income and the value of the property. Capitalization Rate Calculated as ratio of the net operating income and the value of the property.	9.89 %
Gross Rental Yield Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment. Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment.	12.68 %
Gross Rent Multiplier Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income. Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income.	7.89

Financing
Down Payment		$ 66,250
Loan		$ 198,750
Loan to Value Ratio Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price. Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price.		75.00 %
Loan to Cost Ratio Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs). Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs).		69.74 %
Debt Coverage Ratio		2.05

Loan Financing of: Purchase price ($ 265,000)
Type	Amortized
Loan Amount	$ 198,750
Down payment (25%)	$ 66,250
Amortization	30 years
Interest Rate	5.00 %
Monthly Payment	$ 1,066.93

This chart shows the process of accumulation of investor's equity. There is some equity created right at the beginning with the rehab/construction and later investor's equity is rising by paying off the principal of the loan and also by appreciation over the years. All the green parts is the cummulative equity belonging to the investor and the red part belongs to the lender.

Year	0	1	2	3	4	5	6	7	8	9	10
Operational Analysis
Gross Scheduled Income	0	33,600	34,272	34,957	35,657	36,370	37,097	37,839	38,596	39,368	40,155
Vacancy Loss	0	0	0	0	0	0	0	0	0	0	0
Gross Operating Income	0	33,600	34,272	34,957	35,657	36,370	37,097	37,839	38,596	39,368	40,155
Expenses	0	7,384	7,532	7,682	7,836	7,993	8,153	8,316	8,482	8,652	8,825
Net Operating Income	0	26,216	26,740	27,275	27,821	28,377	28,945	29,523	30,114	30,716	31,331
Loan Payment	0	12,803	12,803	12,803	12,803	12,803	12,803	12,803	12,803	12,803	12,803
Payment Interest Part	0	9,871	9,721	9,563	9,397	9,223	9,040	8,847	8,645	8,432	8,209
Payment Principal Part	0	2,932	3,082	3,240	3,406	3,580	3,763	3,956	4,158	4,371	4,594
Cash Flow
Repairs/Construction	20,000	0	0	0	0	0	0	0	0	0	0
Cash Flow Before Taxes	-86,850	13,413	13,937	14,472	15,017	15,574	16,141	16,720	17,311	17,913	18,527
Depreciation	0	7,709	7,709	7,709	7,709	7,709	7,709	7,709	7,709	7,709	7,709
Taxes	0	2,159	2,328	2,501	2,679	2,861	3,049	3,242	3,440	3,644	3,853
Cash Flow After Taxes	-86,850	11,254	11,610	11,971	12,339	12,713	13,092	13,479	13,871	14,269	14,674

Note: All amounts in the table above are in $

Resale Price Evaluation Methods

The property is sold after 10 years. Below is the resale price calculated using different methods.

Appreciation (3.00%)	$ 356,138
Cap Rate (9.89%) & NOI	$ 316,790
Gross Rent Multiplier	$ 316,824

Sale Proceeds

Projected Selling Price	$ 356,138
Costs of Sale (6.00%)	$ 21,368
1. Loan Balance Payoff	$ 161,667
Net Sale Proceeds Before Tax	$ 173,102

In the resale analysis we do not include any calculation for taxes that might be owed on sale of the property. The tax laws for the resale are rather complex and subjected to frequent changes.

Net Assets and Yield

Net Assets
Sale Proceeds Before Tax	$ 173,102
Investor Cash Outlay	$ 86,850
Net Assets	$ 86,252
Average Yield
Annual Net Assets	$ 8,625
Average Cash Flow (After Taxes)	$ 11,460
Average Annual Gain (After Taxes)	$ 20,085
Average Annual Yield (After Taxes)	7.58 %

This charts shows Net Present Value (NPV) when property is sold in various years, i.e. when sold in 5th year, the NPV is calculated from 5 years of Cash Flow (including the selling price) and this NPV is displayed in year 5. Optimal holding period can be estimated, using this method - when NPV is the highest. Please note that appreciation growth can change these numbers greatly. It sometimes makes sense to sell the property even before the end of the mortgage term.

Property Report: 11751 Enyart Rd, Symmes Township RENTAL

Property Report :

11751 Enyart Rd, Symmes Township, OH 45140

Executive Summary