New Construction, PRE-LEASED until April 2025!
Jasper, AL 35501
5 Beds - 3 Baths - 2 Car Gar - Built in 2023
| Square Feet | 2,124 | | Initial Market Value | $299,900 | | Purchase Price | $299,900 | | Downpayment | $74,975 | | Loan Origination Fees | $6,748 | | Depreciable Closing Costs | $8,997 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $90,720 | | Cost per Square Foot | $141 | | Monthly Rent per Square Foot | $0.94 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,995 | $23,940 | | Vacancy Losses | ($100) | ($1,197) | | Operating Income | $1,895 | $22,743 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($170) | ($2,039) | | Insurance | ($75) | ($900) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($40) | ($479) | | Other | $0 | $0 | | Operating Expenses | ($285) | ($3,418) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,610 | $19,325 | | - Mortgage Payments | ($1,277) | ($15,325) | | = Cash Flow | $333 | $4,000 | | + Principal Reduction | $252 | $3,030 | | + First-Year Appreciation | $1,500 | $17,994 | | = Gross Equity Income | $2,085 | $25,024 | | + Tax Savings | $58 | $693 | | = GEI w/Tax Savings | $2,143 | $25,717 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $224,925 | $0 | | Monthly Payment | $1,277.10 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 5.500% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.26 | | Annual Gross Rent Multiplier | 13 | | Monthly Gross Rent Multiplier | 150 | | Capitalization Rate | 6.4% | | Cash on Cash Return | 4% | | 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 |
|---|
| PRE-LEASED through April 2025! New construction with 12 month warranty. 2 years free property management! |
*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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