$1,000,000 · 12 units
Buy
6/6 gates
Buy
Clears every underwriting gate. Still run the rent roll and inspection.
- After-tax cash-on-cash8.6% vs 8.0% target
- Debt coverage1.54x vs 1.25x lender floor
- Going-in cap rate8.4% vs 6.0% floor
- Cash flow per door$139/mo vs $100/mo
- Break-even occupancy77.4% vs 85.0% ceiling
- 5-year after-tax IRR13.4% vs 12.0% target
AT cash / mo
$1,673.65
$139.47 / door
AT cash-on-cash
8.6%
Year 1
Cap rate
8.4%
NOI / price
DSCR
1.54x
NOI / debt service
Cash in
$232,867
Down $200,000
5-yr IRR
13.4%
1.74x equity multiple
Break-even occ.
77.4%
Cash-flow zero
Payback
Beyond hold
From after-tax cash
Cash in $232,867 = down $200,000 + close $15,000 + reserves $17,867
| Year | Rent | NOI | DSCR | AT cash | CoC | Principal | Equity |
|---|---|---|---|---|---|---|---|
| 1 | $144,000 | $84,108 | 1.54x | $20,084 | 8.6% | $10,777 | $240,777 |
| 2 | $145,440 | $84,528 | 1.55x | $20,173 | 8.7% | $11,385 | $283,061 |
| 3 | $146,894 | $84,941 | 1.56x | $20,247 | 8.7% | $12,027 | $326,915 |
| 4 | $148,363 | $85,346 | 1.57x | $20,304 | 8.7% | $12,705 | $372,402 |
| 5 | $149,847 | $85,743 | 1.57x | $20,345 | 8.7% | $13,422 | $419,589 |