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