3212 Herbert Drive, Montgomery, AL


$ 82,591 - Buy & Hold

3.0 bd | 2.0 ba | 1,180 sqft | 1985 yr | $ 895 Rent

IRR
25.35 %
Yield-on-Cost
9.47 %
Cash on Cash
18.97 %
Net Monthly Cashflow
$334

Description

This house is a great deal, where else are you going to find a home built in 1985 with granite countertops, new appliances, new lvp, new interior paint, lighting, two bathrooms with granite and the master bath with custom tile for $79,000? In addition to having a great family room with vaulted ceilings and an awesome kitchen with pass through, this home has a master bedroom with vaulted ceilings and a walk in closet. This home should rent in the $850 range which means it beats the 1% rule, which is almost unheard of!


Buy & Hold Analysis

  • ARV: $82,591
  • Yield-on-Cost: 9.47 %
  • Net Monthly Cashflow: $334
  • Monthly Rent: $895

Financial Analysis

  • Loan Amnt: $ 59,250.00
  • All-in Cost: $ 80,382.50
  • Debt Coverage Ratio: 2.11 %
  • Total Out of Pocket: $ 21,132.50
  • Monthly Mortgage: $ 300.21

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $1,020
  • Vacancy: $537
  • Capex: $0

Financing Assumptions

  • Down Payment: $19,750
  • Interest Rate: 4.50 %
  • Loan Term Months: 360.00
  • Points: $593

Other Assumptions

  • Closing Cost: $ 790
  • Rental Holding Period: 4.00


Contact An Agent About This Property