New Construction, PRE-LEASED until February 2025!
Jasper, AL 35501
4 Beds - 2.5 Baths - 2 Car Gar - Built in 2023
| Square Feet | 2,160 | | Initial Market Value | $304,900 | | Purchase Price | $304,900 | | Downpayment | $76,225 | | Loan Origination Fees | $0 | | Depreciable Closing Costs | $12,196 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $88,421 | | Cost per Square Foot | $141 | | Monthly Rent per Square Foot | $0.87 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,875 | $22,500 | | Vacancy Losses | ($94) | ($1,125) | | Operating Income | $1,781 | $21,375 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($178) | ($2,134) | | Insurance | ($76) | ($915) | | Management Fees | $0 | $0 | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($38) | ($450) | | Other | $0 | $0 | | Operating Expenses | ($292) | ($3,499) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,490 | $17,876 | | - Mortgage Payments | ($1,090) | ($13,085) | | = Cash Flow | $399 | $4,791 | | + Principal Reduction | $336 | $4,034 | | + First-Year Appreciation | $1,525 | $18,294 | | = Gross Equity Income | $2,260 | $27,119 | | + Tax Savings | $14 | $167 | | = GEI w/Tax Savings | $2,274 | $27,287 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $228,675 | $0 | | Monthly Payment | $1,090.41 | $0.00 | | Loan Type | Amortizing ARM | | | Term | 10 Years | | | Interest Rate | 3.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.37 | | Annual Gross Rent Multiplier | 14 | | Monthly Gross Rent Multiplier | 163 | | Capitalization Rate | 5.9% | | Cash on Cash Return | 5% | | Total Return on Investment | 31% | | + 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 Feb '25
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*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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