3361 Royal Creek Road, Montgomery, AL
$ 89,677 - Buy & Hold
3.0 bd | 2.0 ba | 1,616 sqft | 1990 | $ 908 Rent
IRR
29.70 %
Yield-on-Cost
9.28 %
Cash on Cash
18.65 %
Net Monthly Cashflow
$299
Description
This fantastic home is located in a great neighborhood that is a solid B- street with really good curb appeal and strong pride of ownership, which you will see from the below pictures. This deal beats the 1% rule if you can pick it up for $82,000 and it rents for $850 that's just a great buy! Great roof, check, curb appeal, check, amazing yard, check, check! The tenants moved in so quickly due to high demand for this great house that we weren't able to get interior photos, but we will get those soon! This is one I would snatch up quickly, and hold for great cash flow.
Buy & Hold Analysis
- IRR: 29.70 %
- Net Cashflow: $ 3,300
- Rehab Est: $ 0
- Cap Rate: 8.75 %
- Monthly Rent: $ 908
- ARV: $ 89,677
- Cash on Cash: 16.28 %
- Taxes: $ 281
Financial Analysis
- Loan Amnt: $ 68,000
- All-in Cost: $ 87,210
- Debt Coverage Ratio: 8.75 %
- Total Out of Pocket: $ 19,210
- Monthly Mortgage: $ 376
Expense Assumptions
- Prop Insurance: $ 673
- Vacancy: $ 545
- Prop Mgmt Fee: $ 872
- Maintenance: $ 545
- 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: $ 897
- Rental Holding Period: 12