23 Arden Road, Montgomery, AL


$ 97,000 - Buy & Hold

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

IRR
24.74 %
Yield-on-Cost
8.41 %
Cash on Cash
14.74 %
Net Monthly Cashflow
$269

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

  • IRR: 24.74 %
  • Net Cashflow: $ 3,232
  • Rehab Est: $ 0
  • Cap Rate: 8.41 %
  • Monthly Rent: $ 950
  • ARV: $ 97,000
  • Cash on Cash: 14.74 %
  • Taxes: $ 320

Financial Analysis

  • Loan Amnt: $ 77,600
  • All-in Cost: $ 99,522
  • Debt Coverage Ratio: 8.41 %
  • Total Out of Pocket: $ 21,922
  • Monthly Mortgage: $ 429

Expense Assumptions

  • Prop Insurance: $ 728
  • Vacancy: $ 570
  • Prop Mgmt Fee: $ 912
  • Maintenance: $ 570
  • 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: $ 970
  • Rental Holding Period: 12


Contact An Agent About This Property