New Construction in Birmingham Metro
Mount Olive, AL 35117
3 Beds - 2 Baths - 2 Car Garage
| Square Feet | 1,272 | | Initial Market Value | $264,400 | | Purchase Price | $264,400 | | Downpayment | $79,320 | | Loan Origination Fees | $3,702 | | Depreciable Closing Costs | $2,644 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $85,666 | | Cost per Square Foot | $208 | | Monthly Rent per Square Foot | $1.33 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,695 | $20,340 | | Vacancy Losses | ($136) | ($1,627) | | Operating Income | $1,559 | $18,713 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($176) | ($2,115) | | Insurance | ($99) | ($1,190) | | Management Fees | ($108) | ($1,296) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | ($30) | ($360) | | Maintenance | ($34) | ($407) | | Other | $0 | $0 | | Operating Expenses | ($447) | ($5,368) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,112 | $13,345 | | - Mortgage Payments | ($1,155) | ($13,856) | | = Cash Flow | ($43) | ($511) | | + Principal Reduction | $177 | $2,118 | | + First-Year Appreciation | $1,322 | $15,864 | | = Gross Equity Income | $1,456 | $17,471 | | + Tax Savings | $177 | $2,120 | | = GEI w/Tax Savings | $1,633 | $19,591 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 70% | 0% | | Loan Amount | $185,080 | $0 | | Monthly Payment | $1,154.66 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.375% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 0.96 | | Annual Gross Rent Multiplier | 13 | | Monthly Gross Rent Multiplier | 156 | | Capitalization Rate | 5.0% | | Cash on Cash Return | -1% | | Total Return on Investment | 20% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 8% | | Management Fee | $108 | | Maintenance Percentage | 2% |
| Comments |
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| Photos may be representative. Furniture not included. |
*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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