5321 Millwood Road, Montgomery, AL


$ 199,022 - Buy & Hold

4.0 bd | 2.0 ba | 1,940 sqft | 1973 | $ 1,063 Rent

IRR
24.53 %
Yield-on-Cost
6.56 %
Cash on Cash
6.32 %
Net Monthly Cashflow
$161

Description

Beautiful 4 bedroom 2 bath ranch style brick home located in Carol Villa Subdivision which is a highly sought after neighborhood not far from the Air Force Base.   It's close to the mall and a lot of restaurants, major roads and easy access to downtown and jobs.  This newly renovated home has both a large formal living room and formal dining room. The large den includes a wood burning brick fireplace. Durable and stylish wood laminate recently laid. Updated eat-in kitchen with new garbage disposal, cabinets, granite counter tops and tile back splash. The spacious bedrooms have ceiling fans and large closets with ample storage space. Back bedroom and master suite boast walk in closets. Large fenced back yard with a detached storage shed. This home is going, going, gone!  This home should attract high quality tenants that should be very stable and the cash flow on this property should be excellent.  The 3D Tour below is for a different property and we are waiting for the professional photographer to get out to this location.


Buy & Hold Analysis

  • IRR: 24.53 %
  • Net Cashflow: $ -1,945
  • Rehab Est: $ 0
  • Cap Rate: 4.21 %
  • Monthly Rent: $ 1,063
  • ARV: $ 199,022
  • Cash on Cash: -4.32 %
  • Taxes: $ 446

Financial Analysis

  • Loan Amnt: $ 108,000
  • All-in Cost: $ 138,510
  • Debt Coverage Ratio: 4.21 %
  • Total Out of Pocket: $ 30,510
  • Monthly Mortgage: $ 596

Expense Assumptions

  • Prop Insurance: $ 1,493
  • Vacancy: $ 638
  • Prop Mgmt Fee: $ 1,020
  • Maintenance: $ 638
  • 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: $ 1,990
  • Rental Holding Period: 12


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