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


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