3126 Las Animas Avenue, Huntsville, AL


$ 113,620 - Fix & Flip

4.0 bd | 2.5 ba | 1,550 sqft | 1962 | $ 1,000 Rent

ARV
$113,620
Net Profit
$-3,894
Net ROI
-3.00 %

Description

This four sided brick home is on a large lot on a street with very good pride of ownership, the yard is amazing and the home features a deck and patio area in the private back yard.  The home was built in 1962 and is 1,150 square feet according to the tax records, but this does not count the additional bedroom and bathroom in the basement.  There is a one car garage that most tenants would use as an amazingly huge storage space.  The rocking chair front porch is a nice touch and the home has hardwood floors, and updated bathrooms with tile shower surrounds and new vanities.  This home was renovated in 2015 and a new roof, new hvac, new kitchen cabinets, granite and tile backsplash were done at that time as well as finishing the bedroom and bathroom in the basement.  The home has all brand new windows, there are some new electrical breakers and insulation in the basement, as well as a partially insulated crawl space, and the hot water heater was replaced in 2014.  This property is so nice and  at this price to provide maximum cash flow at a low price.  As a 4/2.5 rental it might bring in $975, but verify with property manager.


Fix & Flip Analysis

  • IRR: 26.65 %
  • Net Cashflow: $ 2,706
  • Rehab Est: $ 0
  • Cap Rate: 7.49 %
  • Monthly Rent: $ 1,000
  • ARV: $ 113,620
  • Cash on Cash: 10.54 %
  • Taxes: $ 337

Financial Analysis

  • Loan Amnt: $ 81,600
  • All-in Cost: $ 104,652
  • Debt Coverage Ratio: 7.49 %
  • Total Out of Pocket: $ 23,052
  • Monthly Mortgage: $ 451

Expense Assumptions

  • Prop Insurance: $ 852
  • Vacancy: $ 600
  • Prop Mgmt Fee: $ 960
  • Maintenance: $ 600
  • 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: $ 1,136
  • Rental Holding Period: 12


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