6261 Lycoming Road, Montgomery, AL
$ 124,190 - Buy & Hold
3.0 bd | 2.0 ba | 1,373 sqft | 1977 yr | $ 854 Rent
IRR
26.21 %
Yield-on-Cost
8.42 %
Cash on Cash
14.99 %
Net Monthly Cashflow
$281
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
- ARV: $124,190
- Yield-on-Cost: 8.42 %
- Net Monthly Cashflow: $281
- Monthly Rent: $854
Financial Analysis
- Loan Amnt: $ 63,000.00
- All-in Cost: $ 85,470.00
- Debt Coverage Ratio: 1.88 %
- Total Out of Pocket: $ 22,470.00
- Monthly Mortgage: $ 319.21
Expense Assumptions
- Prop Insurance: $800
- Prop Mgmt Fee: $974
- Vacancy: $512
- Capex: $0
Financing Assumptions
- Down Payment: $21,000
- Interest Rate: 4.50 %
- Loan Term Months: 360.00
- Points: $630
Other Assumptions
- Closing Cost: $ 840
- Rental Holding Period: 4.00