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316 S 8th Ave Yakima, WA 98902

5 Beds 2 Baths 2,745 sqft Built 1905

$379,000

List Price

$1,393

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1905
  • Price/Sqft : $138.07
  • 7 Days on Market
  • MLS # : 21-248
  • Updated Date : 02/10/2021 at 18:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,745 sqft
  • Baths : 2 full
Listing Agent

Fusion Realty

Listing Agent's Description

5 bedroom, 2 bathroom home with new roof and new windows. Rental income option! Potential rent for both units for $2700 per month. Separate entrance and power meter for upper unit. Or option to use as single family residence. Close to schools.

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PRICE & RENT TRENDS

Zip Code: 98902

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $74k189k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 98902

No Data Available.

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Mckinley Elementary School Primary Regular 447 29 1
Franklin Middle School Middle Regular 869 42 5
A.c. Davis High School High Regular 2,099 97 2

Mckinley Elementary School

  • Education Level: Primary
  • # of students: 447
  • # of teachers: 29
1
GreatSchools Rating

Franklin Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 42
5
GreatSchools Rating

A.c. Davis High School

  • Education Level: High
  • # of students: 2,099
  • # of teachers: 97
2
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,254$1,532$1,393

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,393
EXPENSES Loan Payment -$1,316
Property Tax -$295
Property Insurance -$82
Property Management Fees -$109
CASH FLOW
-$409

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$379,000

PROJECTED PRICE

$1,393

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$297

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,393

    LIST RENT
  • $0.51

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,393
1$1,393
$1,393
RENT COMPS ANALYSIS
  • 316 S 8th Ave Yakima, WA
    • 5 beds 2 baths ∙ 2,745 Sqft ∙ Built 1905 5 beds 2 baths ∙ 2,745 Sqft ∙ Built 1905
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,393
    • $0.51
    •  
PROPERTY LISTING DETAILS
Chuck Johnson
1.509.969.7128
Fusion Realty
BESbswy