23 Arden Road, Montgomery, AL
$ 97,000 - Buy & Hold
4.0 bd | 2.0 ba | 1,663 sqft | 1948 | $ 950 Rent
IRR
24.74 %
Yield-on-Cost
8.41 %
Cash on Cash
14.74 %
Net Monthly Cashflow
$269
Description
Built in 1948, this 4/2 has classic charm that appeals to many generations. With nearly 1,700 sq/ft, this home has room on two levels. With arched doorways on the main level and the large upstairs makes this a unique property. With a large yard and admirable neighboring properties, this home is ready to become a profitable rental property.
Buy & Hold Analysis
- IRR: 24.74 %
- Net Cashflow: $ 3,232
- Rehab Est: $ 0
- Cap Rate: 8.41 %
- Monthly Rent: $ 950
- ARV: $ 97,000
- Cash on Cash: 14.74 %
- Taxes: $ 320
Financial Analysis
- Loan Amnt: $ 77,600
- All-in Cost: $ 99,522
- Debt Coverage Ratio: 8.41 %
- Total Out of Pocket: $ 21,922
- Monthly Mortgage: $ 429
Expense Assumptions
- Prop Insurance: $ 728
- Vacancy: $ 570
- Prop Mgmt Fee: $ 912
- Maintenance: $ 570
- 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: $ 970
- Rental Holding Period: 12