Motivated Seller! 2% towards CC and 2 years free mgt!
Steele, AL 35987
3 BR 2 BA Renovated in 2020
| Square Feet | 896 | | Initial Market Value | $139,900 | | Purchase Price | $139,900 | | Downpayment | $34,975 | | Loan Origination Fees | $2,361 | | Depreciable Closing Costs | $3,498 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $40,833 | | Cost per Square Foot | $156 | | Monthly Rent per Square Foot | $1.17 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,050 | $12,600 | | Vacancy Losses | ($63) | ($756) | | Operating Income | $987 | $11,844 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($77) | ($923) | | Insurance | ($51) | ($616) | | Management Fees | ($79) | ($948) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($21) | ($252) | | Other | $0 | $0 | | Operating Expenses | ($228) | ($2,738) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $759 | $9,106 | | - Mortgage Payments | ($697) | ($8,368) | | = Cash Flow | $61 | $737 | | + Principal Reduction | $89 | $1,068 | | + First-Year Appreciation | $700 | $8,394 | | = Gross Equity Income | $850 | $10,199 | | + Tax Savings | $68 | $820 | | = GEI w/Tax Savings | $918 | $11,020 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $104,925 | $0 | | Monthly Payment | $697.36 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.09 | | Annual Gross Rent Multiplier | 11 | | Monthly Gross Rent Multiplier | 133 | | Capitalization Rate | 6.5% | | 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 | 6% | | Management Fee | 8% | | Maintenance Percentage | 2% |
| Comments |
|---|
Leased through June 29, 2024
2% towards closing costs (paid by Seller)
2 years free management (paid by Seller) |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
|
