3550 N Georgetown Drive, Montgomery, AL


$ 131,518 - Buy & Hold

4.0 bd | 3.0 ba | 2,317 sqft | 1963 | $ 1,270 Rent

IRR
24.36 %
Yield-on-Cost
8.32 %
Cash on Cash
14.30 %
Net Monthly Cashflow
$353

Description

This 4/3 home is located in Dalraida, one of the best parts of Montgomery, it's close to a new Publix shopping center (a great demographic indicator of upper income) as well as my favorite Mexican Restaurant (Sol- always packed). The neighborhood is a B+ with sales into the $145,000 and up range on several streets. This home has refinished hardwood floors, new luxury vinyl plank, a formal dining area, formal living room and den, an amazing master suite with a large walk in closet and balcony that overlooks the front yard. The new kitchen has cherry cabinets and granite as well as new appliances! The hvac is new and there have been many electrical updates.
This home should rent in the $1,200-$1,250 per month range depending upon the time of year.


Buy & Hold Analysis

  • IRR: 24.36 %
  • Net Cashflow: $ 4,202
  • Rehab Est: $ 0
  • Cap Rate: 8.28 %
  • Monthly Rent: $ 1,270
  • ARV: $ 131,518
  • Cash on Cash: 14.14 %
  • Taxes: $ 432

Financial Analysis

  • Loan Amnt: $ 104,800
  • All-in Cost: $ 134,406
  • Debt Coverage Ratio: 8.28 %
  • Total Out of Pocket: $ 29,606
  • Monthly Mortgage: $ 579

Expense Assumptions

  • Prop Insurance: $ 986
  • Vacancy: $ 762
  • Prop Mgmt Fee: $ 1,219
  • Maintenance: $ 762
  • 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: $ 1,315
  • Rental Holding Period: 12


Contact An Agent About This Property