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 |
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Gross Rent | $1,875 | $22,500 | Vacancy Losses | ($94) | ($1,125) | Operating Income | $1,781 | $21,375 |
Expenses | Monthly | Annual |
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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 |
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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 |
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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 | |
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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 | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 5% | Management Fee | 0% | Maintenance Percentage | 2% |
Comments |
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10 year ARM @ 3.99%;1 year free mgt; Leased to Feb '25
| *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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