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 |
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Gross Rent | $1,195 | $14,340 | Vacancy Losses | ($96) | ($1,147) | Operating Income | $1,099 | $13,193 |
Expenses | Monthly | Annual |
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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 |
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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 |
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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 | |
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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 | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | 0% | Maintenance Percentage | 5% |
Comments |
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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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