3212 Herbert Drive, Montgomery, AL


$ 82,591 - Buy & Hold

3.0 bd | 2.0 ba | 1,180 sqft | 1985 | $ 895 Rent

IRR
32.64 %
Yield-on-Cost
9.90 %
Cash on Cash
21.48 %
Net Monthly Cashflow
$320

Description

This house is a great deal, where else are you going to find a home built in 1985 with granite countertops, new appliances, new lvp, new interior paint, lighting, two bathrooms with granite and the master bath with custom tile for $79,000? In addition to having a great family room with vaulted ceilings and an awesome kitchen with pass through, this home has a master bedroom with vaulted ceilings and a walk in closet. This home should rent in the $850 range which means it beats the 1% rule, which is almost unheard of!


Buy & Hold Analysis

  • IRR: 32.64 %
  • Net Cashflow: $ 3,618
  • Rehab Est: $ 0
  • Cap Rate: 9.44 %
  • Monthly Rent: $ 895
  • ARV: $ 82,591
  • Cash on Cash: 19.38 %
  • Taxes: $ 261

Financial Analysis

  • Loan Amnt: $ 63,200
  • All-in Cost: $ 81,054
  • Debt Coverage Ratio: 9.44 %
  • Total Out of Pocket: $ 17,854
  • Monthly Mortgage: $ 349

Expense Assumptions

  • Prop Insurance: $ 619
  • Vacancy: $ 537
  • Prop Mgmt Fee: $ 859
  • Maintenance: $ 537
  • 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: $ 826
  • Rental Holding Period: 12


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