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