New Construction in Birmingham Metro
Mount Olive, AL 35117
4 Beds - 2 Baths - 2 Car Garage
Square Feet | 1,497 | Initial Market Value | $274,400 | Purchase Price | $274,400 | Downpayment | $82,320 | Loan Origination Fees | $3,842 | Depreciable Closing Costs | $2,744 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $88,906 | Cost per Square Foot | $183 | Monthly Rent per Square Foot | $1.17 |
Income | Monthly | Annual |
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Gross Rent | $1,750 | $21,000 | Vacancy Losses | ($140) | ($1,680) | Operating Income | $1,610 | $19,320 |
Expenses | Monthly | Annual |
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Property Taxes | ($183) | ($2,195) | Insurance | ($103) | ($1,235) | Management Fees | ($108) | ($1,296) | Leasing/Advertising Fees | $0 | $0 | Association Fees | ($30) | ($360) | Maintenance | ($35) | ($420) | Other | $0 | $0 | Operating Expenses | ($459) | ($5,506) |
Net Performance | Monthly | Annual |
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Net Operating Income | $1,151 | $13,814 | - Mortgage Payments | ($1,198) | ($14,380) | = Cash Flow | ($47) | ($566) | + Principal Reduction | $183 | $2,198 | + First-Year Appreciation | $1,372 | $16,464 | = Gross Equity Income | $1,508 | $18,096 | + Tax Savings | $184 | $2,212 | = GEI w/Tax Savings | $1,692 | $20,309 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 70% | 0% | Loan Amount | $192,080 | $0 | Monthly Payment | $1,198.33 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.375% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 0.96 | Annual Gross Rent Multiplier | 13 | Monthly Gross Rent Multiplier | 157 | Capitalization Rate | 5.0% | Cash on Cash Return | -1% | Total Return on Investment | 20% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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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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