Montgomery, AL
$ 84,900 - Buy & Hold
3.0 bd | 2.0 ba | 2,918 sqft | 1930 yr | $ 900 Rent
IRR
17.58 %
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
- ARV: $95,000
- Yield-on-Cost: 7.94 %
- Net Monthly Cashflow: $274
- Monthly Rent: $900
Financial Analysis
- Loan Amnt: $ 70,124.25
- All-in Cost: $ 95,135.23
- Debt Coverage Ratio: 1.77 %
- Total Out of Pocket: $ 25,010.98
- Monthly Mortgage: $ 355.31
Expense Assumptions
- Prop Insurance: $800
- Prop Mgmt Fee: $1,026
- Vacancy: $540
- Capex: $0
Financing Assumptions
- Down Payment: $23,375
- Interest Rate: 4.50 %
- Loan Term Months: 360.00
- Points: $701
Other Assumptions
- Closing Cost: $ 935
- Rental Holding Period: 4.00