21 Northstar Drive, Columbus, GA


$ 99,900 - Buy & Hold

4.0 bd | 2.0 ba | 1,523 sqft | 2003 | $ 911 Rent

IRR
20.24 %
Yield-on-Cost
7.37 %
Cash on Cash
10.00 %
Net Monthly Cashflow
$186

Description

Owning homes that can consistently rent to military personnel is one of the smartest investments an investor can make in my opinion.  This property is currently owned by a member of the military who was once stationed at Fort Benning, and it was rented for $950 per month to a military tenant before.  The home is located only 15 minutes away from the base which houses the Airborne Screaming Eagles, Army Infantry basic and Ranger training schools.  Columbus is the headquarters for Aflac, a Fortune 1000 company and Synovus Bank, which is parent companies to many banks throughout the Southeast.  Atlanta is only an hour and a half to the Northeast, and Auburn University is only 45 minutes away.  Callaway Gardens, an outstanding tourist destination is also close by.  Military tenants tend to refer other military tenants and we find that vacancy is much reduced because of the ease of advertising to military tenants.  Have any problems with timely payments or tenant damage, let the First Seargent know and it will likley be taken care of quickly!

This home has great curb appeal, an open floor plan with cathederal ceilings in the living room, luxury vinyl plank in common areas are durable surfaces that should last a long time, and the bedrooms are carpeted which tenants tend to prefer.  According to our sources the hvac on this home is only 7 years old, the appliances look like they are newer and we are going to find out about the age of the hotwater heater.

This property has a target rent of $950-975 per month and should be an excellent cash flow, rent-ready, income producing property.  This is not guaranteed and is only a projection based upon past experience, rents change according to season and you should get your own rental comps and verify with the property manager of your choice.

This is a rent ready property that we feel offers an outstanding opportunity to own in Georgia with great returns.  ROI Turnkey Properties LLC brings this property to you through a relationship in our network that professionally renovates properties, this is not a property we own, rather through PMI Georgia our Georgia real estate brokerage we will write up the contract for you and be compensated 3% by the seller.  We will discuss types of agency available prior to writing an offer on this property.  Any related referral fees will be negotiated with the seller as part of the transaction and built into the price.


Buy & Hold Analysis

  • IRR: 20.24 %
  • Net Cashflow: $ 2,159
  • Rehab Est: $ 0
  • Cap Rate: 7.27 %
  • Monthly Rent: $ 911
  • ARV: $ 99,900
  • Cash on Cash: 9.56 %
  • Taxes: $ 829

Financial Analysis

  • Loan Amnt: $ 78,960
  • All-in Cost: $ 101,266
  • Debt Coverage Ratio: 7.27 %
  • Total Out of Pocket: $ 22,306
  • Monthly Mortgage: $ 436

Expense Assumptions

  • Prop Insurance: $ 749
  • Vacancy: $ 547
  • Prop Mgmt Fee: $ 875
  • Maintenance: $ 547
  • 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: $ 999
  • Rental Holding Period: 12


Contact An Agent About This Property