New Construction in Birmingham Metro
Odenville, AL 35120
3 Beds - 2 Baths - 2 Car Garage
Square Feet1,377
Initial Market Value$225,870
Purchase Price$225,870
Downpayment$67,761
Loan Origination Fees$1,581
Depreciable Closing Costs$2,259
Other Closing Costs and Fixup$0
Initial Cash Invested$71,601
Cost per Square Foot$164
Monthly Rent per Square Foot$1.18
IncomeMonthlyAnnual
Gross Rent$1,625$19,500
Vacancy Losses($130)($1,560)
Operating Income$1,495$17,940
ExpensesMonthlyAnnual
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 PerformanceMonthlyAnnual
Net Operating Income$1,089$13,071
- Mortgage Payments($999)($11,992)
= Cash Flow$90$1,078
+ Principal Reduction$147$1,767
+ First-Year Appreciation$1,129$13,552
= Gross Equity Income$1,366$16,398
+ Tax Savings$109$1,306
= GEI w/Tax Savings$1,475$17,704
Mortgage InfoFirstSecond
Loan-to-Value Ratio70%0%
Loan Amount$158,109$0
Monthly Payment$999.36$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate6.500%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.09
Annual Gross Rent Multiplier12
Monthly Gross Rent Multiplier139
Capitalization Rate5.8%
Cash on Cash Return2%
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. Furniture not included.
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.