New Construction in Birmingham Metro
Odenville, AL 35120
3 Beds - 2 Baths - 2 Car Garage
| Square Feet | 1,216 | | Initial Market Value | $223,950 | | Purchase Price | $223,950 | | Downpayment | $67,185 | | Loan Origination Fees | $3,135 | | Depreciable Closing Costs | $2,240 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $72,560 | | Cost per Square Foot | $184 | | Monthly Rent per Square Foot | $1.31 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,595 | $19,140 | | Vacancy Losses | ($128) | ($1,531) | | Operating Income | $1,467 | $17,609 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($149) | ($1,792) | | Insurance | ($84) | ($1,008) | | Management Fees | ($108) | ($1,296) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | ($30) | ($360) | | Maintenance | ($32) | ($383) | | Other | $0 | $0 | | Operating Expenses | ($403) | ($4,838) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,064 | $12,771 | | - Mortgage Payments | ($978) | ($11,736) | | = Cash Flow | $86 | $1,035 | | + Principal Reduction | $150 | $1,794 | | + First-Year Appreciation | $1,120 | $13,437 | | = Gross Equity Income | $1,355 | $16,266 | | + Tax Savings | $108 | $1,292 | | = GEI w/Tax Savings | $1,463 | $17,558 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 70% | 0% | | Loan Amount | $156,765 | $0 | | Monthly Payment | $978.01 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.375% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.09 | | Annual Gross Rent Multiplier | 12 | | Monthly Gross Rent Multiplier | 140 | | Capitalization Rate | 5.7% | | Cash on Cash Return | 1% | | Total Return on Investment | 22% | | + 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. |
*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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