Prattville, AL


$ 120,000 - Buy & Hold

3.0 bd | 1.0 ba | 1,448 sqft | 1947 yr | $ 1,200 Rent

IRR
23.42 %
Yield-on-Cost
8.13 %
Cash on Cash
8.53 %
Net Monthly Cashflow
$220

Description

3/1 single family home close to the heart of Prattville, AL one of the the best suburbs of the Capital City (Montgomery). Walk to the high school football game on Friday nights, enjoy granite countertops in a huge kitchen, plenty of space in this home! Arches, tiled floors and a really cool bathroom! Property manager believes this will rent for $1,200 per month and feels there is great equity!


Buy & Hold Analysis

  • ARV: $160,000
  • Yield-on-Cost: 8.13 %
  • Net Monthly Cashflow: $220
  • Monthly Rent: $1,200

Financial Analysis

  • Loan Amnt: $ 88,000.00
  • All-in Cost: $ 118,960.00
  • Debt Coverage Ratio: 1.38 %
  • Total Out of Pocket: $ 30,960.00
  • Monthly Mortgage: $ 585.47

Expense Assumptions

  • Prop Insurance: $825
  • Prop Mgmt Fee: $1,368
  • Vacancy: $720
  • Capex: $0

Financing Assumptions

  • Down Payment: $22,000
  • Interest Rate: 7.00 %
  • Loan Term Months: 360.00
  • Points: $1,760

Other Assumptions

  • Closing Cost: $ 1,100
  • Rental Holding Period: 12.00


Contact An Agent About This Property