Montgomery, AL
$ 84,900 - Buy & Hold
3.0 bd | 2.0 ba | 2,918 sqft | 1930 | $ 900 Rent
IRR
18.87 %
Yield-on-Cost
7.94 %
Cash on Cash
13.16 %
Net Monthly Cashflow
$274
Description
This large 3 bedroom, 2 bath investment property located in Highland Park is available for sale for the first time. Throughout the 2700+ square foot home, you will find authentic, newly resurfaced, hardwood floors, and a central heat and air system, and an attractive wrap-around front porch and carport on the outside of the home. Don't miss out on this rare opportunity to purchase a great investment property. Attention investors: Seller is willing to convert this to a duplex with an acceptable offer where the buyer pays the cost of the improvements as part of a non refundable earnest money.
Buy & Hold Analysis
- IRR: 18.87 %
- Net Cashflow: $ 3,685
- Rehab Est: $ 0
- Cap Rate: 8.75 %
- Monthly Rent: $ 900
- ARV: $ 95,000
- Cash on Cash: 16.22 %
- Taxes: $ 365
Financial Analysis
- Loan Amnt: $ 70,124
- All-in Cost: $ 95,135
- Debt Coverage Ratio: 8.75 %
- Total Out of Pocket: $ 25,011
- Monthly Mortgage: $ 355
Expense Assumptions
- Prop Insurance: $ 679,200
- Vacancy: $ 540
- Prop Mgmt Fee: $ 1,080
- Maintenance: $ 540
- Capex: $ 0
Financing Assumptions
- Cash Purchase: No
- Loan Term: 360 months
- Down Payment: 25.00 %
- Points: 1.00
- Interest Rate: 4.50 %
- Interest only loan: No
Other Assumptions
- Closing Cost: $ 849
- Rental Holding Period: 4