4604 Lakeview Drive NW, Huntsville, AL


$ 108,031 - Fix & Flip

3.0 bd | 1.5 ba | 1,200 sqft | 1960 | $ 975 Rent

ARV
$108,031
Net Profit
$-2,666
Net ROI
-3.00 %

Description

This four sided brick home was built in 1960 and is going to be a great 3/1.5 home with a 1 car garage.  It has a full basement.  This home will have new granite in the kitchen, refinished hardwood floors, new lighting, a totally new bathroom, new luxury vinyl plank in the bathrooms and kitchen, and new tile and tub in the upstairs bath along with new plumbing stems, valves and trim kits.  The home will have new interior and exterior painting and several more renovations once we complete the rehab scope, which will be posted here upon completion.   We feel that this home with Huntsville rents on the rise and huge expansion of jobs in the area that this home should rent in the $875-895 range.  It's very close to Alabama A&M University, major thoroughfares, shopping and not far from downtown.  This property is so nice and  at this price to provide maximum cash flow at a low price.  Please verify rents with property manager.  House is 1,200 square feet per tax records.


Fix & Flip Analysis

  • IRR: 28.32 %
  • Net Cashflow: $ 2,816
  • Rehab Est: $ 0
  • Cap Rate: 7.71 %
  • Monthly Rent: $ 975
  • ARV: $ 108,031
  • Cash on Cash: 11.53 %
  • Taxes: $ 317

Financial Analysis

  • Loan Amnt: $ 76,800
  • All-in Cost: $ 98,496
  • Debt Coverage Ratio: 7.71 %
  • Total Out of Pocket: $ 21,696
  • Monthly Mortgage: $ 424

Expense Assumptions

  • Prop Insurance: $ 810
  • Vacancy: $ 585
  • Prop Mgmt Fee: $ 936
  • Maintenance: $ 585
  • 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: $ 1,080
  • Rental Holding Period: 12


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