3252 Cheltenham Dr, Montgomery, AL
$ 89,900 - Buy & Hold
3.0 bd | 2.0 ba | 1,705 sqft | 1963 | $ 975 Rent
IRR
29.01 %
Yield-on-Cost
9.26 %
Cash on Cash
18.57 %
Net Monthly Cashflow
$310
Description
Gorgeous home on a large corner lot at 3253 Cheltenham Drive! This beauty has 3 bedrooms, 2 baths and a two car garage! This home has lots of space, it includes a living area and a den which are both spacious and have plush carpet all throughout! Kitchen features a cooktop and wall oven unit. Bedrooms are large and have nice closet space! The backyard is big and has a patio.
Buy & Hold Analysis
- IRR: 29.01 %
- Net Cashflow: $ 3,651
- Rehab Est: $ 0
- Cap Rate: 9.13 %
- Monthly Rent: $ 975
- ARV: $ 89,900
- Cash on Cash: 17.97 %
- Taxes: $ 579
Financial Analysis
- Loan Amnt: $ 70,973
- All-in Cost: $ 91,023
- Debt Coverage Ratio: 9.13 %
- Total Out of Pocket: $ 20,050
- Monthly Mortgage: $ 392
Expense Assumptions
- Prop Insurance: $ 674
- Vacancy: $ 585
- Prop Mgmt Fee: $ 936
- Maintenance: $ 585
- 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: $ 899
- Rental Holding Period: 12