4152 Fitzpatrick Boulevard, Montgomery, AL
$ 102,300 - Buy & Hold
4.0 bd | 2.0 ba | 1,230 sqft | 2013 | $ 925 Rent
IRR
34.73 %
Yield-on-Cost
9.85 %
Cash on Cash
21.27 %
Net Monthly Cashflow
$328
Description
This home was built in 2013, it has 1,230 square feet according to tax records and is right by one of Montgomery's newest schools. It features an amazing rocking chair front porch, and low maintenance vinyl siding. We have purchased and renovated many homes in this neighborhood and have had great success with finding quality tenants quickly due to the homes being so much newer than most of the other rental inventory. The last one we did rented in a week and a half after it was completed. This one will be gone within 24 hours I'm sure. It should rent for $875 per month.
Buy & Hold Analysis
- IRR: 34.73 %
- Net Cashflow: $ 2,713
- Rehab Est: $ 0
- Cap Rate: 7.75 %
- Monthly Rent: $ 925
- ARV: $ 102,300
- Cash on Cash: 11.74 %
- Taxes: $ 271
Financial Analysis
- Loan Amnt: $ 65,600
- All-in Cost: $ 84,132
- Debt Coverage Ratio: 7.75 %
- Total Out of Pocket: $ 18,532
- Monthly Mortgage: $ 362
Expense Assumptions
- Prop Insurance: $ 767
- Vacancy: $ 555
- Prop Mgmt Fee: $ 888
- Maintenance: $ 555
- 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: $ 1,023
- Rental Holding Period: 12