Pre-Leased Property in Huntsville Metro
Meridianville, AL 35759
4 Beds - 2 Baths - 2 Car Garage - Built 2023
| Square Feet | 1,848 | | Initial Market Value | $329,900 | | Purchase Price | $329,900 | | Downpayment | $98,970 | | Loan Origination Fees | $2,309 | | Depreciable Closing Costs | $3,299 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $104,578 | | Cost per Square Foot | $179 | | Monthly Rent per Square Foot | $1.08 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,995 | $23,940 | | Vacancy Losses | ($160) | ($1,915) | | Operating Income | $1,835 | $22,025 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($220) | ($2,639) | | Insurance | ($124) | ($1,485) | | Management Fees | ($108) | ($1,296) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | ($25) | ($300) | | Maintenance | ($40) | ($479) | | Other | $0 | $0 | | Operating Expenses | ($517) | ($6,199) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,319 | $15,826 | | - Mortgage Payments | ($1,460) | ($17,516) | | = Cash Flow | ($141) | ($1,689) | | + Principal Reduction | $215 | $2,581 | | + First-Year Appreciation | $1,650 | $19,794 | | = Gross Equity Income | $1,724 | $20,686 | | + Tax Savings | $252 | $3,027 | | = GEI w/Tax Savings | $1,976 | $23,713 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 70% | 0% | | Loan Amount | $230,930 | $0 | | Monthly Payment | $1,459.63 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.500% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 0.90 | | Annual Gross Rent Multiplier | 14 | | Monthly Gross Rent Multiplier | 165 | | Capitalization Rate | 4.8% | | Cash on Cash Return | -2% | | Total Return on Investment | 20% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 8% | | Management Fee | $108 | | Maintenance Percentage | 2% |
| Comments |
|---|
| Tenant already in place! Leased until August 2024! |
*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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