New Construction Greater Birmingham Area
Pell City, AL 35128
3 Bed - 2 1/2 Bath - New Construction
| Square Feet | 1,666 | | Initial Market Value | $290,900 | | Purchase Price | $290,900 | | Downpayment | $72,725 | | Loan Origination Fees | $0 | | Depreciable Closing Costs | $7,273 | | Other Closing Costs and Fixup | $800 | | Initial Cash Invested | $80,798 | | Cost per Square Foot | $175 | | Monthly Rent per Square Foot | $1.20 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $2,000 | $24,000 | | Vacancy Losses | ($160) | ($1,920) | | Operating Income | $1,840 | $22,080 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($145) | ($1,745) | | Insurance | ($73) | ($873) | | Management Fees | ($60) | ($720) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | ($17) | ($204) | | Maintenance | ($40) | ($480) | | Other | $0 | $0 | | Operating Expenses | ($335) | ($4,022) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,505 | $18,058 | | - Mortgage Payments | ($1,488) | ($17,860) | | = Cash Flow | $16 | $198 | | + Principal Reduction | $176 | $2,112 | | + First-Year Appreciation | $1,455 | $17,454 | | = Gross Equity Income | $1,647 | $19,763 | | + Tax Savings | $183 | $2,201 | | = GEI w/Tax Savings | $1,830 | $21,965 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $218,175 | $0 | | Monthly Payment | $1,488.34 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 7.250% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.01 | | Annual Gross Rent Multiplier | 12 | | Monthly Gross Rent Multiplier | 145 | | Capitalization Rate | 6.2% | | Cash on Cash Return | 0% | | Total Return on Investment | 24% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 8% | | Management Fee | $60 | | Maintenance Percentage | 2% |
| Comments |
|---|
| Beautiful 3 bedroom 2 1/2 bath in a popular area outside of Birmingham. Easy access to dining, shopping and fun on the lake! |
*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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