New Construction, PRE-LEASED until March 2025!
Jasper, AL 35501
4 Beds - 2.5 Baths - 2 Car Gar - Built in 2023
| Square Feet | 1,906 | | Initial Market Value | $301,900 | | Purchase Price | $301,900 | | Downpayment | $75,475 | | Loan Origination Fees | $0 | | Depreciable Closing Costs | $12,076 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $87,551 | | Cost per Square Foot | $158 | | Monthly Rent per Square Foot | $0.93 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,770 | $21,240 | | Vacancy Losses | ($89) | ($1,062) | | Operating Income | $1,682 | $20,178 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($176) | ($2,113) | | Insurance | ($75) | ($906) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($35) | ($425) | | Other | $0 | $0 | | Operating Expenses | ($287) | ($3,444) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,395 | $16,734 | | - Mortgage Payments | ($1,080) | ($12,956) | | = Cash Flow | $315 | $3,778 | | + Principal Reduction | $333 | $3,994 | | + First-Year Appreciation | $1,510 | $18,114 | | = Gross Equity Income | $2,157 | $25,886 | | + Tax Savings | $41 | $497 | | = GEI w/Tax Savings | $2,199 | $26,383 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $226,425 | $0 | | Monthly Payment | $1,079.68 | $0.00 | | Loan Type | Amortizing ARM | | | Term | 10 Years | | | Interest Rate | 3.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.29 | | Annual Gross Rent Multiplier | 14 | | Monthly Gross Rent Multiplier | 171 | | Capitalization Rate | 5.5% | | Cash on Cash Return | 4% | | Total Return on Investment | 30% | | + 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 Mar '25 |
*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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