PRE-LEASED in Huntsville Suburbs
New Market, AL 35761
4 Beds - 2.5 Baths - 2 Car Garage - Built 2023
| Square Feet | 2,160 | | Initial Market Value | $337,900 | | Purchase Price | $337,900 | | Downpayment | $84,475 | | Loan Origination Fees | $0 | | Depreciable Closing Costs | $13,516 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $97,991 | | Cost per Square Foot | $156 | | Monthly Rent per Square Foot | $0.81 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,750 | $21,000 | | Vacancy Losses | ($88) | ($1,050) | | Operating Income | $1,663 | $19,950 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($197) | ($2,365) | | Insurance | ($84) | ($1,014) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($35) | ($420) | | Other | $0 | $0 | | Operating Expenses | ($317) | ($3,799) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,346 | $16,151 | | - Mortgage Payments | ($1,208) | ($14,501) | | = Cash Flow | $137 | $1,650 | | + Principal Reduction | $373 | $4,471 | | + First-Year Appreciation | $1,690 | $20,274 | | = Gross Equity Income | $2,200 | $26,395 | | + Tax Savings | $120 | $1,441 | | = GEI w/Tax Savings | $2,320 | $27,835 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $253,425 | $0 | | Monthly Payment | $1,208.43 | $0.00 | | Loan Type | Amortizing ARM | | | Term | 10 Years | | | Interest Rate | 3.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.11 | | Annual Gross Rent Multiplier | 16 | | Monthly Gross Rent Multiplier | 193 | | Capitalization Rate | 4.8% | | Cash on Cash Return | 2% | | Total Return on Investment | 27% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 5% | | Management Fee | 0% | | Maintenance Percentage | 2% |
| Comments |
|---|
| 10 year ARM @ 3.99%;1 year free mgt; Leased to Nov '24 |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
|
