Property Report :

19351 Hickory Leaf St, Southfield

19351 Hickory Leaf St, Southfield, MI 48076

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Real Estate Analysis

Created on: Apr 15, 2025

Author: Brian Jurvelin

19351 Hickory Leaf St, Southfield, MI 48076

Singlefamily: 7 rooms: 3 bedrooms , 1 bathroom

Year built: 1957, Size: 1236 SF

Investment strategy: Rental Property

Purchase Price$ 100,000

Rent$ 1,300/mo

Monthly Cash Flow$ 57

Cash on Cash Return2.42 %

Financial Analysis

Cash on Cash Return	2.42 %
Internal Rate of Return (IRR)	10.25 %
Capitalization Rate	4.80 %
Gross Rent Multiplier (GRM)	7.37
Debt-coverage Ratio (DCR)	1.14
Operating Expense Ratio (OER)	60.68 %
After Repair Value	$ 115,000
Profit/Equity From Rehab	$ 11,500

Financial Breakdown

Purchase Price	$ 100,000
Purchase Costs	$ 1,500
Repair/Construction Costs	$ 2,000
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 103,500
Financing	$ 75,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 28,500
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.	$ 25,000
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.	$ 3,500

Operating Analysis

Rent	$ 1,300/mo
Gross Operating Income (GOI)	$ 14,040
Total Expenses	$ 8,520
Net Operating Income (NOI)	$ 5,520
Annual Debt Service	$ 4,831
Cash Flow Before Taxes (CFBT)	$ 689
Income Tax Liability	$ -278
Cash Flow After Taxes (CFAT)	$ 967

Purchase Price	$ 100,000
Address	19351 Hickory Leaf St , Southfield, 48076, MI
Year Built	1957
Type	Singlefamily
Size	1236 SF
Bedrooms	3
Bathrooms	1
Rooms Total	7

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.	$ 15,600
Total Gross Income	$ 15,600
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.	$ 1,560
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.	$ 14,040	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).
Property manager	$ 1,800	12.82 %
Insurance	$ 420	2.99 %
Repairs	$ 2,400	17.09 %
Property tax	$ 3,900	27.78 %
Total Expenses	$ 8,520	60.68 %
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.	$ 5,520	39.32 %

Cash Flow (Year 1)

Net Operating Income	$ 5,520	39.32 %
Annual Debt Service	$ 4,831	34.41 %
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.	$ 689	4.90 %
Income Tax Liability	$ -278	-1.98 %
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.	$ 967	6.89 %

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).	60.68 %
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.	95.10 %

Year	0	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	30
Operational Analysis
Gross Scheduled Income	0	15,600	15,912	16,230	16,555	16,886	17,224	17,568	17,919	18,278	18,643	19,016	19,397	19,785	20,180	20,584	20,996	21,415	21,844	22,281	22,726	23,181	23,644	24,117	24,600	25,092	25,593	26,105	26,627	27,160	27,703
Vacancy Loss	0	1,560	1,591	1,623	1,655	1,689	1,722	1,757	1,792	1,828	1,864	1,902	1,940	1,978	2,018	2,058	2,100	2,142	2,184	2,228	2,273	2,318	2,364	2,412	2,460	2,509	2,559	2,611	2,663	2,716	2,770
Gross Operating Income	0	14,040	14,321	14,607	14,899	15,197	15,501	15,811	16,128	16,450	16,779	17,115	17,457	17,806	18,162	18,525	18,896	19,274	19,659	20,053	20,454	20,863	21,280	21,706	22,140	22,582	23,034	23,495	23,965	24,444	24,933
Expenses	0	8,520	8,690	8,864	9,041	9,222	9,407	9,595	9,787	9,983	10,182	10,386	10,594	10,805	11,022	11,242	11,467	11,696	11,930	12,169	12,412	12,660	12,913	13,172	13,435	13,704	13,978	14,258	14,543	14,834	15,130
Net Operating Income	0	5,520	5,630	5,743	5,858	5,975	6,095	6,216	6,341	6,468	6,597	6,729	6,863	7,001	7,141	7,284	7,429	7,578	7,729	7,884	8,042	8,202	8,366	8,534	8,704	8,879	9,056	9,237	9,422	9,610	9,803
Loan Payment	0	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831	4,831
Payment Interest Part	0	3,725	3,668	3,609	3,546	3,480	3,411	3,339	3,262	3,182	3,098	3,009	2,916	2,818	2,715	2,606	2,493	2,373	2,247	2,115	1,976	1,830	1,676	1,515	1,345	1,167	979	782	575	357	128
Payment Principal Part	0	1,107	1,163	1,223	1,285	1,351	1,420	1,493	1,569	1,649	1,734	1,822	1,916	2,014	2,117	2,225	2,339	2,459	2,584	2,717	2,856	3,002	3,155	3,317	3,486	3,665	3,852	4,049	4,256	4,474	4,703
Cash Flow
Repairs/Construction	2,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flow Before Taxes	-28,500	689	799	912	1,026	1,144	1,263	1,385	1,509	1,636	1,766	1,897	2,032	2,169	2,309	2,452	2,598	2,746	2,898	3,053	3,210	3,371	3,535	3,702	3,873	4,047	4,225	4,406	4,591	4,779	4,971
Depreciation	0	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909	2,909
Taxes	0	-278	-237	-194	-149	-104	-56	-8	42	94	148	203	260	319	379	442	507	574	643	715	789	866	945	1,028	1,113	1,201	1,292	1,387	1,485	1,586	1,691
Cash Flow After Taxes	-28,500	967	1,036	1,105	1,176	1,247	1,320	1,393	1,467	1,542	1,618	1,695	1,772	1,851	1,930	2,010	2,091	2,172	2,255	2,338	2,421	2,505	2,590	2,675	2,761	2,846	2,933	3,019	3,106	3,193	3,280

Note: All amounts in the table above are in $

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