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617 Cornell Ave Yakima, WA 98902

2 Beds 1 Baths 1,043 sqft Built 1925

INVESTimate

$125,000

List Price

$852

$767 - $937

Rent Est.

$133,300  ( +6.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1925
  • Price/Sqft : $119.85
  • 3 Days on Market
  • MLS # : 20-1828
  • Updated Date : 08/24/2020 at 17:33
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,043 sqft
  • Baths : 1 full
Listing Agent

Fusion Realty

Listing Agent's Description

This 2br, 1 ba home is ready for someone to come in and give it a facelift. Bones are good, solid. Living room and 1 bedroom has hardwood floors, other bedroom has carpet. Stove and refrigerator stay. There is potential here. Basement is unfinished. There is a room down there that could be a study or office. Yard is fully fenced and there is a single detached garage.

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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
 

$112,500$137,500$125,000

PURCHASE PRICE

$767$937$852

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $852
EXPENSES Loan Payment -$461
Property Tax -$97
Property Insurance -$48
Property Management Fees -$109
CASH FLOW
$137

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.

$125,000

PROJECTED PRICE

$852

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.64%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,875

INVESTMENT

$38,875

Down Payment
$31,250
Rehab Estimate
$5,750
Closing Costs
$1,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$461

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $31,250
Loan Amount $93,750
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$21,962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $852

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$852
1$852
$852
RENT COMPS ANALYSIS
  • 617 Cornell Ave Yakima,
    • 2 beds 1 baths ∙ 1,043 Sqft ∙ Built 1925 2 beds 1 baths ∙ 1,043 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $852
    • $0.82
    •  
PROPERTY LISTING DETAILS
Lisa Parker
1.509.961.1785
Fusion Realty
BESbswy