6261 Lycoming Road, Montgomery, AL


$ 124,190 - Buy & Hold

3.0 bd | 2.0 ba | 1,373 sqft | 1977 | $ 854 Rent

IRR
32.51 %
Yield-on-Cost
8.78 %
Cash on Cash
16.38 %
Net Monthly Cashflow
$259

Description

This 3/2 brick home has 1,372 square feet according to tax records and was built in 1977, and has a fenced yard, huge trees and a great lot with tons of room for kids to run around.  The home has been nicely renovated with new flooring, paint, lighting and so much more.  This home rents for $800 per month and should be a great income producing property with solid returns.  It's in a great area surrounded by more expensive homes and with good pride of ownership.


Buy & Hold Analysis

  • IRR: 32.51 %
  • Net Cashflow: $ 678
  • Rehab Est: $ 0
  • Cap Rate: 5.70 %
  • Monthly Rent: $ 854
  • ARV: $ 124,190
  • Cash on Cash: 2.42 %
  • Taxes: $ 277

Financial Analysis

  • Loan Amnt: $ 67,200
  • All-in Cost: $ 86,184
  • Debt Coverage Ratio: 5.70 %
  • Total Out of Pocket: $ 18,984
  • Monthly Mortgage: $ 371

Expense Assumptions

  • Prop Insurance: $ 931
  • Vacancy: $ 512
  • Prop Mgmt Fee: $ 820
  • Maintenance: $ 512
  • 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: $ 1,242
  • Rental Holding Period: 12


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