PRE-LEASED New Construction - Short Commute to Montgomery
Thorsby, AL 35171
3 Bed - 2 Bath - 2 Car Garage
| Square Feet | 1,801 | | Initial Market Value | $269,900 | | Purchase Price | $269,900 | | Downpayment | $67,475 | | Loan Origination Fees | $0 | | Depreciable Closing Costs | $10,796 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $78,271 | | Cost per Square Foot | $150 | | Monthly Rent per Square Foot | $0.83 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,495 | $17,940 | | Vacancy Losses | ($75) | ($897) | | Operating Income | $1,420 | $17,043 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($157) | ($1,889) | | Insurance | ($67) | ($810) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($30) | ($359) | | Other | $0 | $0 | | Operating Expenses | ($255) | ($3,058) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,165 | $13,985 | | - Mortgage Payments | ($965) | ($11,583) | | = Cash Flow | $200 | $2,402 | | + Principal Reduction | $298 | $3,571 | | + First-Year Appreciation | $1,350 | $16,194 | | = Gross Equity Income | $1,847 | $22,167 | | + Tax Savings | $65 | $779 | | = GEI w/Tax Savings | $1,912 | $22,946 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $202,425 | $0 | | Monthly Payment | $965.24 | $0.00 | | Loan Type | Amortizing ARM | | | Term | 10 Years | | | Interest Rate | 3.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.21 | | Annual Gross Rent Multiplier | 15 | | Monthly Gross Rent Multiplier | 181 | | Capitalization Rate | 5.2% | | Cash on Cash Return | 3% | | Total Return on Investment | 28% | | + 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 Jul '24 |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
|
