PRE-LEASED in Huntsville Suburbs
New Market, AL 35761
4 Beds - 2.5 Baths - 2 Car Garage - Built 2023
Square Feet | 2,160 | Initial Market Value | $337,900 | Purchase Price | $337,900 | Downpayment | $84,475 | Loan Origination Fees | $0 | Depreciable Closing Costs | $13,516 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $97,991 | Cost per Square Foot | $156 | Monthly Rent per Square Foot | $0.81 |
Income | Monthly | Annual |
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Gross Rent | $1,750 | $21,000 | Vacancy Losses | ($88) | ($1,050) | Operating Income | $1,663 | $19,950 |
Expenses | Monthly | Annual |
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Property Taxes | ($197) | ($2,365) | Insurance | ($84) | ($1,014) | Management Fees | $0 | $0 | Leasing/Advertising Fees | $0 | $0 | Association Fees | $0 | $0 | Maintenance | ($35) | ($420) | Other | $0 | $0 | Operating Expenses | ($317) | ($3,799) |
Net Performance | Monthly | Annual |
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Net Operating Income | $1,346 | $16,151 | - Mortgage Payments | ($1,208) | ($14,501) | = Cash Flow | $137 | $1,650 | + Principal Reduction | $373 | $4,471 | + First-Year Appreciation | $1,690 | $20,274 | = Gross Equity Income | $2,200 | $26,395 | + Tax Savings | $120 | $1,441 | = GEI w/Tax Savings | $2,320 | $27,835 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 75% | 0% | Loan Amount | $253,425 | $0 | Monthly Payment | $1,208.43 | $0.00 | Loan Type | Amortizing ARM | | Term | 10 Years | | Interest Rate | 3.990% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 1.11 | Annual Gross Rent Multiplier | 16 | Monthly Gross Rent Multiplier | 193 | Capitalization Rate | 4.8% | Cash on Cash Return | 2% | Total Return on Investment | 27% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 5% | Management Fee | 0% | Maintenance Percentage | 2% |
Comments |
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10 year ARM @ 3.99%;1 year free mgt; Leased to Nov '24 | *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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