New Construction in Cullman
Cullman, AL 35077
4bd • 3ba • Built: 2026
| Projected Income | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Projected Rent | $22,200 | $23,088 | $24,012 | $24,972 | $25,971 | $27,010 | $28,090 | $29,214 | $30,382 | $31,598 |
| Vacancy Losses | ($1,776) | ($1,847) | ($1,921) | ($1,998) | ($2,078) | ($2,161) | ($2,247) | ($2,337) | ($2,431) | ($2,528) |
| Operating Income | $20,424 | $21,241 | $22,091 | $22,974 | $23,893 | $24,849 | $25,843 | $26,877 | $27,952 | $29,070 |
| Estimated Expenses | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Property Taxes | ($2,047) | ($2,108) | ($2,172) | ($2,237) | ($2,304) | ($2,373) | ($2,444) | ($2,517) | ($2,593) | ($2,671) |
| Insurance | ($1,260) | ($1,297) | ($1,336) | ($1,376) | ($1,418) | ($1,460) | ($1,504) | ($1,549) | ($1,596) | ($1,643) |
| Management Fees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Leasing/Advertising Fees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Association Fees | ($600) | ($618) | ($637) | ($656) | ($675) | ($696) | ($716) | ($738) | ($760) | ($783) |
| Maintenance | ($444) | ($457) | ($471) | ($485) | ($500) | ($515) | ($530) | ($546) | ($562) | ($579) |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating Expenses | ($4,350) | ($4,481) | ($4,615) | ($4,754) | ($4,896) | ($5,043) | ($5,195) | ($5,351) | ($5,511) | ($5,676) |
| Income Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Net Operating Income | $16,074 | $16,760 | $17,475 | $18,220 | $18,997 | $19,806 | $20,648 | $21,526 | $22,441 | $23,393 |
| - Mortgage Payments | ($13,327) | ($13,327) | ($13,327) | ($13,327) | ($13,327) | ($13,327) | ($13,327) | ($13,867) | ($13,867) | ($13,867) |
| = Cash Flow | $2,747 | $3,433 | $4,148 | $4,893 | $5,670 | $6,479 | $7,321 | $7,659 | $8,573 | $9,526 |
| + Principal Reduction | $4,250 | $4,418 | $4,592 | $4,773 | $4,961 | $5,157 | $5,361 | $8,399 | $8,633 | $8,874 |
| + Appreciation | $18,894 | $20,028 | $21,229 | $22,503 | $23,853 | $25,284 | $26,802 | $28,410 | $30,114 | $31,921 |
| = Gross Equity Income | $25,891 | $27,878 | $29,970 | $32,170 | $34,484 | $36,920 | $39,483 | $44,468 | $47,321 | $50,321 |
| Capitalization Rate | 4.8% | 4.7% | 4.7% | 4.6% | 4.5% | 4.4% | 4.4% | 4.3% | 4.2% | 4.1% |
| Cash on Cash Return | 3.3% | 4.1% | 4.9% | 5.8% | 6.7% | 7.7% | 8.7% | 9.1% | 10.2% | 11.3% |
| Return on Equity | 25.4% | 22.1% | 19.7% | 17.9% | 16.6% | 15.5% | 14.6% | 14.5% | 13.7% | 13.0% |
| Loan Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Market Value | $333,794 | $353,822 | $375,051 | $397,554 | $421,407 | $446,692 | $473,493 | $501,903 | $532,017 | $563,938 |
| - Loan Balance | ($231,925) | ($227,507) | ($222,915) | ($218,142) | ($213,180) | ($208,023) | ($202,663) | ($194,263) | ($185,630) | ($176,756) |
| = Equity | $101,869 | $126,315 | $152,136 | $179,412 | $208,227 | $238,668 | $270,831 | $307,640 | $346,387 | $387,182 |
| Loan-to-Value Ratio | 69.5% | 64.3% | 59.4% | 54.9% | 50.6% | 46.6% | 42.8% | 38.7% | 34.9% | 31.3% |
| Potential Cash-Out Refi | $35,110 | $55,550 | $77,126 | $99,901 | $123,945 | $149,330 | $176,132 | $207,259 | $239,984 | $274,394 |
| Sale Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Equity | $101,869 | $126,315 | $152,136 | $179,412 | $208,227 | $238,668 | $270,831 | $307,640 | $346,387 | $387,182 |
| - Closing Costs | ($23,366) | ($24,768) | ($26,254) | ($27,829) | ($29,499) | ($31,268) | ($33,145) | ($35,133) | ($37,241) | ($39,476) |
| = Proceeds After Sale | $78,504 | $101,547 | $125,882 | $151,583 | $178,728 | $207,400 | $237,686 | $272,506 | $309,146 | $347,706 |
| + Cumulative Cash Flow | $2,747 | $6,180 | $10,328 | $15,221 | $20,891 | $27,370 | $34,691 | $42,350 | $50,923 | $60,449 |
| - Approximate Cash Invested | ($84,236) | ($84,236) | ($84,236) | ($84,236) | ($84,236) | ($84,236) | ($84,236) | ($84,236) | ($84,236) | ($84,236) |
| = Net Profit | ($2,986) | $23,491 | $51,974 | $82,569 | $115,384 | $150,534 | $188,141 | $230,620 | $275,833 | $323,920 |
| Internal Rate of Return | -3.5% | 13.3% | 17.9% | 19.4% | 19.8% | 19.8% | 19.6% | 19.4% | 19.1% | 18.8% |
| Return on Investment | -3.5% | 27.9% | 61.7% | 98.0% | 137.0% | 178.7% | 223.4% | 273.8% | 327.5% | 384.5% |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.