Southaven Property Available!
Southaven, MS 38671
3 bdrms, 2 baths, built in 2011
Square Feet | 1,643 | Initial Market Value | $127,900 | Purchase Price | $127,900 | Downpayment | $31,975 | Loan Origination Fees | $959 | Depreciable Closing Costs | $5,116 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $38,050 | Cost per Square Foot | $78 | Monthly Rent per Square Foot | $0.70 |
Income | Monthly | Annual |
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Gross Rent | $1,150 | $13,800 | Vacancy Losses | ($92) | ($1,104) | Operating Income | $1,058 | $12,696 |
Expenses | Monthly | Annual |
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Property Taxes | ($182) | ($2,187) | Insurance | ($58) | ($691) | Management Fees | ($95) | ($1,143) | Leasing/Advertising Fees | $0 | $0 | Association Fees | $0 | $0 | Maintenance | ($35) | ($414) | Other | $0 | $0 | Operating Expenses | ($370) | ($4,434) |
Net Performance | Monthly | Annual |
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Net Operating Income | $688 | $8,262 | - Mortgage Payments | ($500) | ($6,005) | = Cash Flow | $188 | $2,257 | + Principal Reduction | $123 | $1,480 | + First-Year Appreciation | $640 | $7,674 | = Gross Equity Income | $951 | $11,411 | + Tax Savings | $5 | $58 | = GEI w/Tax Savings | $956 | $11,469 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 75% | 0% | Loan Amount | $95,925 | $0 | Monthly Payment | $500.39 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 4.750% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 1.38 | Annual Gross Rent Multiplier | 9 | Monthly Gross Rent Multiplier | 111 | Capitalization Rate | 6.5% | Cash on Cash Return | 6% | Total Return on Investment | 30% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | 9% | Maintenance Percentage | 3% |
Comments |
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3 bedrooms, two bathrooms, 1643 square feet, two car garage, recent build. Currently rented for $1150. | *Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
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