1330 Hillman Street, Montgomery, AL


$ 125,000 - Buy & Hold

4.0 bd | 2.0 ba | 1,848 sqft | 1973 yr | $ 1,100 Rent

IRR
14.74 %
Yield-on-Cost
7.43 %
Cash on Cash
11.20 %
Net Monthly Cashflow
$312

Description

This 4/2 approximately 1,848 square ft. home was built in 1973.  Located practically right on top of Maxwell-Gunter Air Force Base, this property should be really easy to rent to highly stable military personnel.  With some comps as high as $145,000 this home is in a very stable B+ neighborhood, Gunter Air Force Annex is directly behind the property, so this property has a very high probability of attracting Air Force Personnel with a strong chance of renting to an Officer.  Totally renovated, this home has new exterior and interior paint, lighting, hot water heater, new luxury vinyl plank throughout, and totally gutted and redone bathrooms that are amazing.  This home should rent for $1,150 per month and is a great turn key income producing property.  Close before January 15th and seller will put new granite in kitchen!  The current tenant has the home leased well below market at $950 until March of 2020!  Seller is willing to make price concessions or cover some closing costs to account for the below market rent up to $1,000.


Buy & Hold Analysis

  • ARV: $125,000
  • Yield-on-Cost: 7.43 %
  • Net Monthly Cashflow: $312
  • Monthly Rent: $1,100

Financial Analysis

  • Loan Amnt: $ 93,750.00
  • All-in Cost: $ 127,187.50
  • Debt Coverage Ratio: 1.66 %
  • Total Out of Pocket: $ 33,437.50
  • Monthly Mortgage: $ 475.02

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $1,254
  • Vacancy: $660
  • Capex: $0

Financing Assumptions

  • Down Payment: $31,250
  • Interest Rate: 4.50 %
  • Loan Term Months: 360.00
  • Points: $938

Other Assumptions

  • Closing Cost: $ 1,250
  • Rental Holding Period: 4.00


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