6220 Wares Ferry Road, Montgomery, AL


$ 90,000 - Buy & Hold

3.0 bd | 2.0 ba | 1,144 sqft | 1971 | $ 900 Rent

IRR
0.00 %
Yield-on-Cost
960.47 %
Cash on Cash
4,336.92 %
Net Monthly Cashflow
$715

Description

This 3/2 four sided brick home has approximately 1,144 square feet according to tax records and was built in 1973. The living room has columns and opens to a nice dining area that then leads into the kitchen.  This home has a stunning new kitchen with fabulous cabinets, tiled backsplash and granite countertops.  The flooring is luxury vinyl plank throughout which is water proof and very durable.  The bathrooms were gutted and completely redone, they are amazing!   This is a great turn property if you are looking for a solid return.  You can get price or terms, and while this home isn't a huge equity play, it's a great way to own a property with the seller offering almost 4 years on a lease purchase.  The home does have a covered patio and This home should rent for $825-875 per month is an excellent high ROI income property.


Buy & Hold Analysis

  • IRR: 0.00 %
  • Net Cashflow: $ 3,183
  • Rehab Est: $ 0
  • Cap Rate: 8.61 %
  • Monthly Rent: $ 900
  • ARV: $ 90,000
  • Cash on Cash: 15.65 %
  • Taxes: $ 297

Financial Analysis

  • Loan Amnt: $ 700
  • All-in Cost: $ 898
  • Debt Coverage Ratio: 8.61 %
  • Total Out of Pocket: $ 198
  • Monthly Mortgage: $ 4

Expense Assumptions

  • Prop Insurance: $ 675
  • Vacancy: $ 540
  • Prop Mgmt Fee: $ 864
  • Maintenance: $ 540
  • 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: $ 900
  • Rental Holding Period: 12


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