151 Carol Villa Drive, Montgomery, AL


$ 135,475 - Buy & Hold

4.0 bd | 2.0 ba | 1,690 sqft | 1970 | $ 1,100 Rent

IRR
19.85 %
Yield-on-Cost
7.13 %
Cash on Cash
8.93 %
Net Monthly Cashflow
$218

Description

This 4/2 four sided brick home has 1,690 square ft.  according to tax records.  The home was built in 1969 and  has excellent curb appeal, it's on a large lot, with a fenced back yard and a great covered patio grilling area and a huge enclosed covered patio.  Boasting a large family room, eat in kitchen with tons of white cabinets this home is great for entertaining.  The bedrooms are large and the home is totally renovated with a new roof,  new carpet, paint, lighting and so much more. The bathrooms were completely gutted and are amazing with new tile surround, high end vanities and new luxury vinyl plank flooring.  The home is in a good neighborhood close to the mall and restaurants.  With rents in the $1,000-$1,100 per month range this home is an excellent cash flow deal and with comparable sales going to $133,000 this home should be a good value with an excellent tenant!  (This home rented for $950 during December and should rent for $1,000-$1,100).


Buy & Hold Analysis

  • IRR: 19.85 %
  • Net Cashflow: $ 2,283
  • Rehab Est: $ 0
  • Cap Rate: 6.81 %
  • Monthly Rent: $ 1,100
  • ARV: $ 135,475
  • Cash on Cash: 7.46 %
  • Taxes: $ 429

Financial Analysis

  • Loan Amnt: $ 103,920
  • All-in Cost: $ 133,277
  • Debt Coverage Ratio: 6.81 %
  • Total Out of Pocket: $ 29,357
  • Monthly Mortgage: $ 574

Expense Assumptions

  • Prop Insurance: $ 1,016
  • Vacancy: $ 660
  • Prop Mgmt Fee: $ 1,056
  • Maintenance: $ 660
  • 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: $ 1,355
  • Rental Holding Period: 12


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