Motivated Seller! 2% towards CC and 2 years free mgt!
Steele, AL 35987
3 BR 2 BA Renovated in 2020
| Square Feet | 780 | | Initial Market Value | $139,900 | | Purchase Price | $139,900 | | Downpayment | $34,975 | | Loan Origination Fees | $2,361 | | Depreciable Closing Costs | $2,798 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $40,134 | | Cost per Square Foot | $179 | | Monthly Rent per Square Foot | $1.53 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,195 | $14,340 | | Vacancy Losses | ($96) | ($1,147) | | Operating Income | $1,099 | $13,193 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($76) | ($909) | | Insurance | ($52) | ($630) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($60) | ($717) | | Other | $0 | $0 | | Operating Expenses | ($188) | ($2,256) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $911 | $10,937 | | - Mortgage Payments | ($697) | ($8,368) | | = Cash Flow | $214 | $2,569 | | + Principal Reduction | $89 | $1,068 | | + First-Year Appreciation | $700 | $8,394 | | = Gross Equity Income | $1,003 | $12,030 | | + Tax Savings | $15 | $184 | | = GEI w/Tax Savings | $1,018 | $12,214 |
| | 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 | 1.31 | | Annual Gross Rent Multiplier | 10 | | Monthly Gross Rent Multiplier | 117 | | Capitalization Rate | 7.8% | | Cash on Cash Return | 6% | | Total Return on Investment | 30% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 8% | | Management Fee | 0% | | Maintenance Percentage | 5% |
| Comments |
|---|
Tenant is renting month to month beginning October 31
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.
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