112 Gray Drive, Prattville, AL
$ 109,144 - Fix & Flip
3.0 bd | 2.0 ba | 1,283 sqft | 1977 | $ 1,000 Rent
ARV
$109,144
Net Profit
$35,304
Net ROI
52.00 %
Description
This beautiful recently renovated 3/2 home is located in the wonderful city of Prattville with the best schools in the county. The large living room has a beautiful stone fireplace perfect for those cold nights. The galley style kitchen comes with new appliances, new counter tops, and a formal eating area. All three bedrooms are quite large with tons of closet space. The two bathrooms have been recently remodeled with new cabinets, and tubs with a beautiful tile surround. There is a large laundry room with storage space. With a large fenced backyard, you have the room to garden or entertain friends and family.
Fix & Flip Analysis
- IRR: 30.72 %
- Net Cashflow: $ 2,967
- Rehab Est: $ 28,000
- Cap Rate: 7.82 %
- Monthly Rent: $ 1,000
- ARV: $ 109,144
- Cash on Cash: 12.03 %
- Taxes: $ 347
Financial Analysis
- Loan Amnt: $ 28,000
- All-in Cost: $ 63,910
- Debt Coverage Ratio: 7.82 %
- Total Out of Pocket: $ 35,910
- Monthly Mortgage: $ 155
Expense Assumptions
- Prop Insurance: $ 819
- Vacancy: $ 600
- Prop Mgmt Fee: $ 960
- Maintenance: $ 600
- Capex: $ 0
Financing Assumptions
- Cash Purchase: No
- Loan Term: 360 months
- Down Payment: 20.00 %
- Points: 2.00
- Interest Rate: 5.25 %
- Interest only loan: No
Other Assumptions
- Closing Cost: $ 1,091
- Rental Holding Period: 12