Property Information

New Construction Cullman, Alabama
Cullman, AL 35057
3 Bedroom, 2 Bath complete summer of 2021
Square Feet1,375
Initial Market Value$219,900
Purchase Price$219,900
Downpayment$54,975
Loan Origination Fees$1,649
Depreciable Closing Costs$7,697
Other Closing Costs and Fixup$0
Initial Cash Invested$64,321
Cost per Square Foot$160
Monthly Rent per Square Foot$1.13
IncomeMonthlyAnnual
Gross Rent$1,550$18,600
Vacancy Losses($124)($1,488)
Operating Income$1,426$17,112
ExpensesMonthlyAnnual
Property Taxes($110)($1,319)
Insurance($82)($990)
Management Fees($114)($1,369)
Leasing/Advertising Fees$0$0
Association Fees$0$0
Maintenance($47)($558)
Other($124)($1,488)
Operating Expenses($477)($5,724)
Net PerformanceMonthlyAnnual
Net Operating Income$949$11,388
- Mortgage Payments($764)($9,165)
= Cash Flow$185$2,223
+ Principal Reduction$253$3,033
+ First-Year Appreciation$1,100$13,194
= Gross Equity Income$1,537$18,449
+ Tax Savings$41$488
= GEI w/Tax Savings$1,578$18,937
Mortgage InfoFirstSecond
Loan-to-Value Ratio75%0%
Loan Amount$164,925$0
Monthly Payment$763.79$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate3.750%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.24
Annual Gross Rent Multiplier12
Monthly Gross Rent Multiplier142
Capitalization Rate5.2%
Cash on Cash Return3%
Total Return on Investment29%
Total ROI with Tax Savings29%
Assumptions
Real Estate Appreciation Rate6%
Vacancy Rate8%
Management Fee8%
Maintenance Percentage3%
Comments
Very nice 3 bedroom, 3 bath home w/ 2 car garage. Vinyl siding & brick exterior, covered back porch. Sodded yard, established neighborhood, conveniently located 2 miles to I-65. Cullman City School District. Stainless steel appliances & granite surfaces.
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.