2 Houses on 1 Parcel
Mobile, AL 36605
2BR, 1BA each Home- Built 1982
Square Feet | 1,658 | Initial Market Value | $105,000 | Purchase Price | $105,000 | Downpayment | $26,250 | Loan Origination Fees | $1,772 | Depreciable Closing Costs | $5,250 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $33,272 | Cost per Square Foot | $63 | Monthly Rent per Square Foot | $0.78 |
Income | Monthly | Annual |
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Gross Rent | $1,300 | $15,600 | Vacancy Losses | ($104) | ($1,248) | Operating Income | $1,196 | $14,352 |
Expenses | Monthly | Annual |
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Property Taxes | ($79) | ($945) | Insurance | ($105) | ($1,260) | Management Fees | ($96) | ($1,148) | Leasing/Advertising Fees | $0 | $0 | Association Fees | $0 | $0 | Maintenance | ($104) | ($1,248) | Other | $0 | $0 | Operating Expenses | ($383) | ($4,601) |
Net Performance | Monthly | Annual |
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Net Operating Income | $813 | $9,751 | - Mortgage Payments | ($523) | ($6,281) | = Cash Flow | $289 | $3,470 | + Principal Reduction | $67 | $802 | + First-Year Appreciation | $525 | $6,300 | = Gross Equity Income | $881 | $10,572 | + Tax Savings | $0 | $0 | = GEI w/Tax Savings | $881 | $10,572 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 75% | 0% | Loan Amount | $78,750 | $0 | Monthly Payment | $523.40 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.990% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 1.55 | Annual Gross Rent Multiplier | 7 | Monthly Gross Rent Multiplier | 81 | Capitalization Rate | 9.3% | Cash on Cash Return | 10% | Total Return on Investment | 32% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | 8% | Maintenance Percentage | 8% | *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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