4583 Wimbledon Road, Montgomery, AL


$ 56,897 - Buy & Hold

3.0 bd | 2.0 ba | 1,080 sqft | 1977 | $ 795 Rent

IRR
46.53 %
Yield-on-Cost
12.50 %
Cash on Cash
33.29 %
Net Monthly Cashflow
$354

Description

This solid home is located in a C+ neighborhood with good curb appeal up and down the street.  This deal beats the 1% rule if you can pick it up for just $70,000 and it rents for $775.  It's not everyday you can get a 3/2 with a gorgeous interior and respectable exterior for a price like this!  This property has a huge fenced back yard. As you can see from the pictures below, the interior is clean, the bathrooms bright, and the carpet and other flooring ready to go. Deals like this don't last when a typical down payment would be less than $18,000. Wow!  This is one I would snatch up quickly, and hold for great cash flow.


Buy & Hold Analysis

  • IRR: 46.53 %
  • Net Cashflow: $ 4,227
  • Rehab Est: $ 0
  • Cap Rate: 12.41 %
  • Monthly Rent: $ 795
  • ARV: $ 56,897
  • Cash on Cash: 32.88 %
  • Taxes: $ 215

Financial Analysis

  • Loan Amnt: $ 45,200
  • All-in Cost: $ 57,969
  • Debt Coverage Ratio: 12.41 %
  • Total Out of Pocket: $ 12,769
  • Monthly Mortgage: $ 250

Expense Assumptions

  • Prop Insurance: $ 427
  • Vacancy: $ 477
  • Prop Mgmt Fee: $ 763
  • Maintenance: $ 477
  • 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: $ 569
  • Rental Holding Period: 12


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