Pre Construction - 3 Bedroom Block Construction in Ocala
Ocala, FL 34480
Est. Completion- Sept-Nov 2020
| Square Feet | 1,357 | | Initial Market Value | $159,900 | | Purchase Price | $159,900 | | Downpayment | $39,975 | | Loan Origination Fees | $2,698 | | Depreciable Closing Costs | $5,597 | | Other Closing Costs and Fixup | $0 | | Initial Cash Invested | $48,270 | | Cost per Square Foot | $118 | | Monthly Rent per Square Foot | $0.98 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,325 | $15,900 | | Vacancy Losses | ($66) | ($795) | | Operating Income | $1,259 | $15,105 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($200) | ($2,399) | | Insurance | ($27) | ($320) | | Management Fees | ($101) | ($1,208) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($40) | ($477) | | Other | $0 | $0 | | Operating Expenses | ($367) | ($4,404) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $892 | $10,701 | | - Mortgage Payments | ($797) | ($9,565) | | = Cash Flow | $95 | $1,137 | | + Principal Reduction | $102 | $1,221 | | + First-Year Appreciation | $800 | $9,594 | | = Gross Equity Income | $996 | $11,951 | | + Tax Savings | $71 | $857 | | = GEI w/Tax Savings | $1,067 | $12,808 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $119,925 | $0 | | Monthly Payment | $797.06 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.12 | | Annual Gross Rent Multiplier | 10 | | Monthly Gross Rent Multiplier | 121 | | Capitalization Rate | 6.7% | | Cash on Cash Return | 2% | | Total Return on Investment | 25% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 5% | | Management Fee | 8% | | Maintenance Percentage | 3% |
| Comments |
|---|
PRE-CONSTRUCTION! This 3 bedroom, 2 bath, 2 car
garage home is located the a very desirable Silver
Springs Shores neighborhoods in
Ocala, Florida.
Property is on well & septic. |
*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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