3419 Rosedale Drive, Huntsville, AL


$ 96,600 - Buy & Hold

4.0 bd | 2.0 ba | 1,300 sqft | 1966 yr | $ 1,000 Rent

IRR
28.20 %
Yield-on-Cost
9.83 %
Cash on Cash
20.33 %
Net Monthly Cashflow
$385

Description

Built in 1966 this 4/3 home just went through a major renovation.  Low maintenance vinyl siding is a real positive with this home, and this home should always be very easy to rent with so many bedrooms and bathrooms!  Original hardwood floors have been refinished, as well as the addition to Luxury Vinyl Plank flooring in the bedrooms and baths.  Fresh paint everywhere, as well as new bathroom vanities, mirrors, lighting, and tile in the tub/shower areas. The returns on this property will be better than almost any home we have sold in the last couple of years.  Expect the appraisal to be tight, and it's always possible on this one that you may have to bring a few extra thousand to closing if it struggles to appraise.  There was a sale one street over on Kyle lane that just sold in April for $82,000 and it is smaller and has one less bedroom and bathroom than this property.  There are also some sales close by at $100,000, but then there are foreclosure sales which won't be anywhere close in renovation quality or scope of course.  If this home rents for $900 even you will exceed the 1% rule by quite a bit in HUNTSVILLE, which has been exploding with growth! You will also see how nice the street is by previewing the pictures below.  Huntsville deals are getting very hard to come by and you are buying a 4/3 for the price of a 3/2. Please see our fully renovated tour below! 


Buy & Hold Analysis

  • ARV: $96,600
  • Yield-on-Cost: 9.83 %
  • Net Monthly Cashflow: $385
  • Monthly Rent: $1,000

Financial Analysis

  • Loan Amnt: $ 63,750.00
  • All-in Cost: $ 86,487.50
  • Debt Coverage Ratio: 2.19 %
  • Total Out of Pocket: $ 22,737.50
  • Monthly Mortgage: $ 323.01

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $1,140
  • Vacancy: $600
  • Capex: $0

Financing Assumptions

  • Down Payment: $21,250
  • Interest Rate: 4.50 %
  • Loan Term Months: 360.00
  • Points: $638

Other Assumptions

  • Closing Cost: $ 850
  • Rental Holding Period: 4.00


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