Property Report: N Midland RENTAL

Property Report :

N Midland

314 N Midland Rd, Nyack, NY 10960

Created on: Apr 16, 2025

Author: Peter Niles

314 N Midland Rd, Nyack, NY 10960

Multifamily: 9 bedrooms , 5 bathrooms + 3 kitchens

Year built: 1950, Size: 3772 SF

Investment strategy: Rental Property

Purchase Price$ 350,000
Rent$ 5,800/mo
Monthly Cash Flow$ 570
Cash on Cash Return11.58 %

Financial Analysis

Cash on Cash Return 11.58 %
Internal Rate of Return (IRR) 13.17 %
Capitalization Rate 8.81 %
Gross Rent Multiplier (GRM) 5.60
Debt-coverage Ratio (DCR) 1.25
Operating Expense Ratio (OER) 49.63 %
After Repair Value $ 390,000

Financial Breakdown

Purchase Price $ 350,000
Purchase Costs $ 13,000
Repair/Construction Costs $ 40,000
Total Capital Needed
$ 403,000
Financing $ 343,920
Total Cash Needed
$ 59,080
Cash at Closing
$ 85,980
Cash During Rehab
$ -26,900

Operating Analysis

Rent $ 5,800/mo
Gross Operating Income (GOI) $ 68,208
Total Expenses $ 33,850
Net Operating Income (NOI) $ 34,358
Annual Debt Service $ 27,514
Cash Flow Before Taxes (CFBT) $ 6,844
Income Tax Liability $ 10,440
Cash Flow After Taxes (CFAT) $ -3,596

Upper Nyack investment property available for sale. High income potential with some cosmetic repair work. Hardwood floors are in great shape and all tenants are on separate meter. This is a double size lot and previously housed a 4 car garage which

Purchase Price $ 350,000
Address 314 N Midland Rd , Nyack, 10960, NY
Year Built 1950
Type Multifamily
Number of Units 3
Size 3772 SF
Bedrooms 9
Bathrooms 5
Kitchens 3
314 N Midland Rd Nyack, NY 10960
  • $ 390,000

    Property ARV
  • Multifamily

    Bldg type
  • 3,772

    SqFt
  • $ 103

    per SqFt
  • 9

    Beds
  • 5

    Baths

It wasn't possible to load comps automatically for this address. You can add them manually below. Click here to see automatically selected comps on Redfin®

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Property address Distance Beds Baths SqFt Bldg type Date sold Sale price $/SqFt Notes Edit
Average: $ 0 $ 0 /SqFt
Estimated ARV:
$ 0

Comps selected: 0

Annual Property Operating Data

Incomes % of GOI
Gross Scheduled Income
$ 69,600    
Total Gross Income $ 69,600  
Vacancy loss
$ 1,392  
Gross Operating Income
$ 68,208 100.00 %
Expenses
Repairs $ 2,401 3.52 %
Manager $ 5,568 8.16 %
Prop_taxes $ 20,000 29.32 %
Prop_insurance $ 2,401 3.52 %
Capex $ 3,480 5.10 %
Total Expenses $ 33,850 49.63 %
Net Operating Income
$ 34,358 50.37 %

Cash Flow (Year 1)

Net Operating Income $ 34,358 50.37 %
Annual Debt Service $ 27,514 40.34 %
Cash Flow Before Taxes (CFBT)
$ 6,844 10.03 %
Income Tax Liability $ 10,440 15.31 %
Cash Flow After Taxes (CFAT)
$ -3,596 -5.27 %

Operating Ratios

Operating Expense Ratio
49.63 %
Break-Even Ratio
89.97 %

Financial Measures

Net Present Value
$ 17,916
Internal Rate of Return
13.17 %
Profitability Index
1.30
Annual Depreciation $ 10,182

Holding period of 10 years and discount rate of 10.00% 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
11.58 %
Return on Investment
23.43 %
Capitalization Rate
8.81 %
Gross Rental Yield
19.89 %
Gross Rent Multiplier
5.60
Financing % of ARV
Down Payment $ 85,980 22.05 %
1. Loan $ 343,920 88.18 %
2. Loan (Refinance) $ 343,920 88.18 %
Loan to Value Ratio
98.26 %
Loan to Cost Ratio
88.18 %
Debt Coverage Ratio 1.25
1. Loan

Financing of: Specific amount ($ 429,900)

Type Interest-Only
Loan Amount $ 343,920
Down payment (20%) $ 85,980
Loan term 1 years
Interest Rate 8.00 %
Monthly Payment $ 2,292.80
2. Loan (Refinance)

Financing of: Refinance ($ 429,900)

Type Amortized
Loan Amount $ 343,920
Amortization 30 years
Interest Rate 5.00 %
Monthly Payment $ 1,846.24

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
Operational Analysis
Gross Scheduled Income
Vacancy Loss
Gross Operating Income
Expenses
Net Operating Income
1. Loan Payment
Payment Interest Part
Payment Principal Part
2. Loan Payment
Payment Interest Part
Payment Principal Part
Total Debt Service
Cash Flow
Repairs/Construction
Cash Flow Before Taxes
Depreciation 0
Taxes
Cash Flow After Taxes

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 (2.00%) $ 475,408
Cap Rate (8.59%) & NOI $ 478,003
Gross Rent Multiplier $ 465,799

Sale Proceeds

Projected Selling Price $ 475,408
Costs of Sale (7.00%) $ 33,279
Net Sale Proceeds Before Tax $ 154,428

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 $ 154,428
Investor Cash Outlay $ 59,080
Net Assets $ 95,348
Average Yield
Annual Net Assets $ 9,535
Average Cash Flow (After Taxes) $ 0
Average Annual Gain (After Taxes) $ 0
Average Annual Yield (After Taxes) 0.00 %

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.

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