4445 Woodcrest Drive, Montgomery, AL


$ 118,170 - Buy & Hold

4.0 bd | 2.0 ba | 1,806 sqft | 1967 | $ 1,029 Rent

IRR
28.51 %
Yield-on-Cost
8.70 %
Cash on Cash
16.06 %
Net Monthly Cashflow
$308

Description

This property was just recently put under contract!  It will be coming soon! Reserve Now.

This four sided brick home has a huge two car garage and a huge yard, and the home backs right up to a huge park!  This is a really spacious home with 1,806 square feet according to Montgomery, Alabama tax records.  Walk into the huge family room with vaulted ceilings.The kitchen is going to be great with new appliances, new flooring, updated cabinets, granite countertops, a new stainless under-mount sink, faucets, and plumbing under the sink.

The bathrooms will be gutted to the studs, new plumbing behind the showers, new or reglazed tubs, new tile shower surrounds, luxury vinyl plank, and new vanities.  The house will receive new interior paint, new lighting, new flooring and a brand new roof! The full scope should be coming soon. This property should rent for $925-$950 per month and should be an excellent cash flow, turn key, income producing property.


Buy & Hold Analysis

  • IRR: 28.51 %
  • Net Cashflow: $ 2,723
  • Rehab Est: $ 0
  • Cap Rate: 7.41 %
  • Monthly Rent: $ 1,029
  • ARV: $ 118,170
  • Cash on Cash: 10.19 %
  • Taxes: $ 337

Financial Analysis

  • Loan Amnt: $ 81,600
  • All-in Cost: $ 104,652
  • Debt Coverage Ratio: 7.41 %
  • Total Out of Pocket: $ 23,052
  • Monthly Mortgage: $ 451

Expense Assumptions

  • Prop Insurance: $ 886
  • Vacancy: $ 617
  • Prop Mgmt Fee: $ 988
  • Maintenance: $ 617
  • 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: $ 1,182
  • Rental Holding Period: 12


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