4140 Fitzpatrcik Boulevard, Montgomery, AL


$ 105,000 - Buy & Hold

3.0 bd | 2.0 ba | 1,067 sqft | 2013 | $ 950 Rent

IRR
36.92 %
Yield-on-Cost
10.23 %
Cash on Cash
22.97 %
Net Monthly Cashflow
$350

Description

Built in 2013 this 3/2 home has 1,067 square feet according to the tax records, it's low maintenance vinyl siding and the fact that it is only 6 years old mean that it is lower maintenance than many other homes an investor could own, and that it will attract tenants drawn to new homes as opposed to the much older housing stock that is typically available in the area for this price range.  This home should rent easily for $800-$825 per month and should provide a great return. The home has been pressure washed, the porch steps and decking painted, received landscaping, new vinyl plank flooring, new appliances, some new lighting, new interior paint, and new mirrors in the bathrooms.  Don't be surprised if this house is gone in a few hours!


Buy & Hold Analysis

  • IRR: 36.92 %
  • Net Cashflow: $ 2,752
  • Rehab Est: $ 0
  • Cap Rate: 7.72 %
  • Monthly Rent: $ 950
  • ARV: $ 105,000
  • Cash on Cash: 11.60 %
  • Taxes: $ 316

Financial Analysis

  • Loan Amnt: $ 64,800
  • All-in Cost: $ 83,106
  • Debt Coverage Ratio: 7.72 %
  • Total Out of Pocket: $ 18,306
  • Monthly Mortgage: $ 358

Expense Assumptions

  • Prop Insurance: $ 788
  • Vacancy: $ 570
  • Prop Mgmt Fee: $ 912
  • Maintenance: $ 570
  • 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: $ 1,050
  • Rental Holding Period: 12


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