PRE-LEASED in Birmingham Suburbs
Bessemer, AL 35022
3 Beds - 2 Baths - 2 Car Garage - Built 2023
| Square Feet | 1,613 | | Initial Market Value | $281,900 | | Purchase Price | $281,900 | | Downpayment | $70,475 | | Loan Origination Fees | $4,229 | | Depreciable Closing Costs | $8,457 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $83,161 | | Cost per Square Foot | $175 | | Monthly Rent per Square Foot | $1.07 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,725 | $20,700 | | Vacancy Losses | ($86) | ($1,035) | | Operating Income | $1,639 | $19,665 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($160) | ($1,917) | | Insurance | ($70) | ($846) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($35) | ($414) | | Other | $0 | $0 | | Operating Expenses | ($265) | ($3,177) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,374 | $16,488 | | - Mortgage Payments | ($1,266) | ($15,195) | | = Cash Flow | $108 | $1,294 | | + Principal Reduction | $217 | $2,601 | | + First-Year Appreciation | $1,410 | $16,914 | | = Gross Equity Income | $1,734 | $20,809 | | + Tax Savings | $132 | $1,582 | | = GEI w/Tax Savings | $1,866 | $22,391 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $211,425 | $0 | | Monthly Payment | $1,266.24 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 5.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.09 | | Annual Gross Rent Multiplier | 14 | | Monthly Gross Rent Multiplier | 163 | | Capitalization Rate | 5.8% | | Cash on Cash Return | 2% | | Total Return on Investment | 25% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 5% | | Management Fee | 0% | | Maintenance Percentage | 2% |
| Comments |
|---|
| PRE-LEASED through November 2024! New construction with 12 month warranty. 1 year free property management! |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
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