New Construction Cullman, Alabama
Cullman, AL 35057
3 Bedroom, 2 Bath complete summer of 2021
Square Feet | 1,375 | Initial Market Value | $219,900 | Purchase Price | $219,900 | Downpayment | $54,975 | Loan Origination Fees | $3,711 | Depreciable Closing Costs | $7,697 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $66,382 | Cost per Square Foot | $160 | Monthly Rent per Square Foot | $1.13 |
Income | Monthly | Annual |
---|
Gross Rent | $1,550 | $18,600 | Vacancy Losses | ($124) | ($1,488) | Operating Income | $1,426 | $17,112 |
Expenses | Monthly | Annual |
---|
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 Performance | Monthly | Annual |
---|
Net Operating Income | $949 | $11,388 | - Mortgage Payments | ($1,096) | ($13,154) | = Cash Flow | ($147) | ($1,766) | + Principal Reduction | $140 | $1,679 | + First-Year Appreciation | $1,100 | $13,194 | = Gross Equity Income | $1,092 | $13,107 | + Tax Savings | $193 | $2,320 | = GEI w/Tax Savings | $1,286 | $15,427 |
| Mortgage Info | First | Second |
---|
Loan-to-Value Ratio | 75% | 0% | Loan Amount | $164,925 | $0 | Monthly Payment | $1,096.14 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.990% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
---|
Debt Coverage Ratio | 0.87 | Annual Gross Rent Multiplier | 12 | Monthly Gross Rent Multiplier | 142 | Capitalization Rate | 5.2% | Cash on Cash Return | -3% | Total Return on Investment | 20% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
---|
Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | 8% | Maintenance Percentage | 3% |
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.
|