973 Parkwood Court, Montgomery, AL


$ 101,356 - Fix & Flip

3.0 bd | 2.0 ba | 1,827 sqft | 1954 | $ 1,001 Rent

ARV
$101,356
Net Profit
$-12,094
Net ROI
-11.00 %

Description

Ok, so let's admit that this one doesn't look like much from the outside, pretty basic, nice rocking chair front porch, but not a lot of curb appeal, but don't judge a book by it's cover quite yet!  The inside of this home is amazing, the hardwood floors are so incredible, the vaulted eat in kitchen features arches, tons of cabinets, a pass through to the family room which is amazing, and features a brick fireplace and built in book shelves.  There are French doors in a huge sun room that lead to a large fenced back yard.  The neighborhood is established and while the homes are older, the demographics for this area are good and it's very desirable for owner occupants and military tenants because of the close proximity to Maxwell Air Force Base.  We target $900 in rent for this home because tax records have it at 1,827 square feet and it's in a great location.


Fix & Flip Analysis

  • IRR: 26.60 %
  • Net Cashflow: $ 3,470
  • Rehab Est: $ 0
  • Cap Rate: 8.50 %
  • Monthly Rent: $ 1,001
  • ARV: $ 101,356
  • Cash on Cash: 15.15 %
  • Taxes: $ 327

Financial Analysis

  • Loan Amnt: $ 79,200
  • All-in Cost: $ 101,574
  • Debt Coverage Ratio: 8.50 %
  • Total Out of Pocket: $ 22,374
  • Monthly Mortgage: $ 437

Expense Assumptions

  • Prop Insurance: $ 760
  • Vacancy: $ 601
  • Prop Mgmt Fee: $ 961
  • Maintenance: $ 601
  • 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: $ 1,014
  • Rental Holding Period: 12


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