23 Arden Road, Montgomery, AL


$ 97,000 - Buy & Hold

4.0 bd | 2.0 ba | 1,663 sqft | 1948 yr | $ 950 Rent

IRR
18.43 %
Yield-on-Cost
8.19 %
Cash on Cash
14.11 %
Net Monthly Cashflow
$305

Description

Built in 1948, this 4/2 has classic charm that appeals to many generations. With nearly 1,700 sq/ft, this home has room on two levels. With arched doorways on the main level and the large upstairs makes this a unique property. With a large yard and admirable neighboring properties, this home is ready to become a profitable rental property.


Buy & Hold Analysis

  • ARV: $97,000
  • Yield-on-Cost: 8.19 %
  • Net Monthly Cashflow: $305
  • Monthly Rent: $950

Financial Analysis

  • Loan Amnt: $ 72,750.00
  • All-in Cost: $ 98,697.50
  • Debt Coverage Ratio: 1.83 %
  • Total Out of Pocket: $ 25,947.50
  • Monthly Mortgage: $ 368.61

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $1,083
  • Vacancy: $570
  • Capex: $0

Financing Assumptions

  • Down Payment: $24,250
  • Interest Rate: 4.50 %
  • Loan Term Months: 360.00
  • Points: $728

Other Assumptions

  • Closing Cost: $ 970
  • Rental Holding Period: 4.00


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