4708 Sunshine Drive, Montgomery, AL


$ 90,647 - Buy & Hold

4.0 bd | 2.0 ba | 1,425 sqft | 1965 yr | $ 900 Rent

IRR
24.15 %
Yield-on-Cost
9.07 %
Cash on Cash
17.44 %
Net Monthly Cashflow
$322

Description

This 4/2 brick home is located in Sunshine Acres/Seth Johnson subdivision a neighborhood that has been significantly on the rise due to a large number of renovations that have taken place. This has been our best performing neighborhood, it's a street with solid C+ to B- pride of ownership. We have probably renovated 6 homes on this street alone. Right now we have four homes in this neighborhood, so if you are looking for a very attractive package you can do really well by assembling several really nice properties that have great returns! This property has a great floor plan including a large formal living room and a formal dining area, the kitchen has a small dining area as well, and the large back yard is privacy fenced. This home has a new roof, new hot water heater, and new hvac, refinished hardwood floors, new lighting, paint, appliances, new bathroom vanities, mirrors and much more. The full scope of work will be posted below within 48 hours. This home is rented for $830 per month and the lease runs through September of 2019. It's rare to get a property that beats the 1% rule in today's market but we just did! Also, property taxes are so low that you get much better cash flow for the price in Alabama.


Buy & Hold Analysis

  • ARV: $90,647
  • Yield-on-Cost: 9.07 %
  • Net Monthly Cashflow: $322
  • Monthly Rent: $900

Financial Analysis

  • Loan Amnt: $ 62,175.00
  • All-in Cost: $ 84,350.75
  • Debt Coverage Ratio: 2.02 %
  • Total Out of Pocket: $ 22,175.75
  • Monthly Mortgage: $ 315.03

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $1,026
  • Vacancy: $540
  • Capex: $0

Financing Assumptions

  • Down Payment: $20,725
  • Interest Rate: 4.50 %
  • Loan Term Months: 360.00
  • Points: $622

Other Assumptions

  • Closing Cost: $ 829
  • Rental Holding Period: 4.00


Contact An Agent About This Property