New Construction in Birmingham Metro
Odenville, AL 35120
3 Beds - 2 Baths - 2 Car Garage
Square Feet1,216
Initial Market Value$223,950
Purchase Price$223,950
Downpayment$67,185
Loan Origination Fees$1,568
Depreciable Closing Costs$2,240
Other Closing Costs and Fixup$0
Initial Cash Invested$70,992
Cost per Square Foot$184
Monthly Rent per Square Foot$1.31
IncomeMonthlyAnnual
Gross Rent$1,595$19,140
Vacancy Losses($128)($1,531)
Operating Income$1,467$17,609
ExpensesMonthlyAnnual
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 PerformanceMonthlyAnnual
Net Operating Income$1,064$12,771
- Mortgage Payments($991)($11,890)
= Cash Flow$73$880
+ Principal Reduction$146$1,752
+ First-Year Appreciation$1,120$13,437
= Gross Equity Income$1,339$16,069
+ Tax Savings$113$1,360
= GEI w/Tax Savings$1,452$17,429
Mortgage InfoFirstSecond
Loan-to-Value Ratio70%0%
Loan Amount$156,765$0
Monthly Payment$990.86$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate6.500%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.07
Annual Gross Rent Multiplier12
Monthly Gross Rent Multiplier140
Capitalization Rate5.7%
Cash on Cash Return1%
Total Return on Investment23%
+ Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc.
Assumptions
Real Estate Appreciation Rate6%
Vacancy Rate8%
Management Fee$108
Maintenance Percentage2%
Comments
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.