4583 Wimbledon Road, Montgomery, AL


$ 56,897 - Buy & Hold

3.0 bd | 2.0 ba | 1,080 sqft | 1977 yr | $ 795 Rent

IRR
35.71 %
Yield-on-Cost
11.64 %
Cash on Cash
27.21 %
Net Monthly Cashflow
$343

Description

This solid home is located in a C+ neighborhood with good curb appeal up and down the street.  This deal beats the 1% rule if you can pick it up for just $70,000 and it rents for $775.  It's not everyday you can get a 3/2 with a gorgeous interior and respectable exterior for a price like this!  This property has a huge fenced back yard. As you can see from the pictures below, the interior is clean, the bathrooms bright, and the carpet and other flooring ready to go. Deals like this don't last when a typical down payment would be less than $18,000. Wow!  This is one I would snatch up quickly, and hold for great cash flow.


Buy & Hold Analysis

  • ARV: $56,897
  • Yield-on-Cost: 11.64 %
  • Net Monthly Cashflow: $343
  • Monthly Rent: $795

Financial Analysis

  • Loan Amnt: $ 42,375.00
  • All-in Cost: $ 57,488.75
  • Debt Coverage Ratio: 2.60 %
  • Total Out of Pocket: $ 15,113.75
  • Monthly Mortgage: $ 214.71

Expense Assumptions

  • Prop Insurance: $800
  • Prop Mgmt Fee: $906
  • Vacancy: $477
  • Capex: $0

Financing Assumptions

  • Down Payment: $14,125
  • Interest Rate: 4.50 %
  • Loan Term Months: 360.00
  • Points: $424

Other Assumptions

  • Closing Cost: $ 565
  • Rental Holding Period: 4.00


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