New Construction and Leased
Lincoln, AL 35096
3 BR 2 BA 2 Car Gar Built in 2020
Square Feet | 1,801 | Initial Market Value | $183,000 | Purchase Price | $183,000 | Downpayment | $45,750 | Loan Origination Fees | $3,088 | Depreciable Closing Costs | $4,575 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $53,413 | Cost per Square Foot | $102 | Monthly Rent per Square Foot | $0.77 |
Income | Monthly | Annual |
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Gross Rent | $1,395 | $16,740 | Vacancy Losses | ($84) | ($1,004) | Operating Income | $1,311 | $15,736 |
Expenses | Monthly | Annual |
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Property Taxes | ($101) | ($1,208) | Insurance | ($67) | ($805) | Management Fees | ($105) | ($1,259) | Leasing/Advertising Fees | $0 | $0 | Association Fees | $0 | $0 | Maintenance | ($28) | ($335) | Other | $0 | $0 | Operating Expenses | ($301) | ($3,607) |
Net Performance | Monthly | Annual |
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Net Operating Income | $1,011 | $12,129 | - Mortgage Payments | ($912) | ($10,947) | = Cash Flow | $99 | $1,182 | + Principal Reduction | $116 | $1,397 | + First-Year Appreciation | $915 | $10,980 | = Gross Equity Income | $1,130 | $13,559 | + Tax Savings | $83 | $998 | = GEI w/Tax Savings | $1,213 | $14,558 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 75% | 0% | Loan Amount | $137,250 | $0 | Monthly Payment | $912.21 | $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 | 1.11 | Annual Gross Rent Multiplier | 11 | Monthly Gross Rent Multiplier | 131 | Capitalization Rate | 6.6% | Cash on Cash Return | 2% | Total Return on Investment | 25% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 6% | Management Fee | 8% | Maintenance Percentage | 2% |
Comments |
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* One year limited builder's warranty included
* Tenant moved in May 14, 2020
* Appreciation, Vacancy and Maintenance Assumptions provided by JasonHartman.com | *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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