New Construction in Birmingham Metro
Odenville, AL 35120
3 Beds - 2 Baths - 2 Car Garage
| Square Feet | 1,377 | | Initial Market Value | $225,870 | | Purchase Price | $225,870 | | Downpayment | $67,761 | | Loan Origination Fees | $3,162 | | Depreciable Closing Costs | $2,259 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $73,182 | | Cost per Square Foot | $164 | | Monthly Rent per Square Foot | $1.18 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,625 | $19,500 | | Vacancy Losses | ($130) | ($1,560) | | Operating Income | $1,495 | $17,940 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($151) | ($1,807) | | Insurance | ($85) | ($1,016) | | Management Fees | ($108) | ($1,296) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | ($30) | ($360) | | Maintenance | ($33) | ($390) | | Other | $0 | $0 | | Operating Expenses | ($406) | ($4,869) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,089 | $13,071 | | - Mortgage Payments | ($986) | ($11,837) | | = Cash Flow | $103 | $1,234 | | + Principal Reduction | $151 | $1,810 | | + First-Year Appreciation | $1,129 | $13,552 | | = Gross Equity Income | $1,383 | $16,596 | | + Tax Savings | $103 | $1,238 | | = GEI w/Tax Savings | $1,486 | $17,834 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 70% | 0% | | Loan Amount | $158,109 | $0 | | Monthly Payment | $986.39 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.375% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.10 | | Annual Gross Rent Multiplier | 12 | | Monthly Gross Rent Multiplier | 139 | | Capitalization Rate | 5.8% | | Cash on Cash Return | 2% | | Total Return on Investment | 23% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 8% | | Management Fee | $108 | | Maintenance Percentage | 2% |
| Comments |
|---|
| 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.
|
