New Construction Greater Birmingham Area
Pell City, AL 35128
3 Bed - 2 Bath - New Construction
Square Feet | 2,000 | Initial Market Value | $299,900 | Purchase Price | $299,900 | Downpayment | $74,975 | Loan Origination Fees | $0 | Depreciable Closing Costs | $7,498 | Other Closing Costs and Fixup | $800 | Initial Cash Invested | $83,273 | Cost per Square Foot | $150 | Monthly Rent per Square Foot | $1.03 |
Income | Monthly | Annual |
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Gross Rent | $2,050 | $24,600 | Vacancy Losses | ($164) | ($1,968) | Operating Income | $1,886 | $22,632 |
Expenses | Monthly | Annual |
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Property Taxes | ($150) | ($1,799) | Insurance | ($75) | ($900) | Management Fees | ($60) | ($720) | Leasing/Advertising Fees | $0 | $0 | Association Fees | ($17) | ($204) | Maintenance | ($41) | ($492) | Other | $0 | $0 | Operating Expenses | ($343) | ($4,115) |
Net Performance | Monthly | Annual |
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Net Operating Income | $1,543 | $18,517 | - Mortgage Payments | ($1,534) | ($18,413) | = Cash Flow | $9 | $104 | + Principal Reduction | $181 | $2,177 | + First-Year Appreciation | $1,500 | $17,994 | = Gross Equity Income | $1,690 | $20,275 | + Tax Savings | $192 | $2,304 | = GEI w/Tax Savings | $1,882 | $22,579 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 75% | 0% | Loan Amount | $224,925 | $0 | Monthly Payment | $1,534.38 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 7.250% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 1.01 | Annual Gross Rent Multiplier | 12 | Monthly Gross Rent Multiplier | 146 | Capitalization Rate | 6.2% | Cash on Cash Return | 0% | Total Return on Investment | 24% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | $60 | Maintenance Percentage | 2% |
Comments |
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Beautiful 3 bedroom 2 bath in a popular area outside of Birmingham. Easy access to dining, shopping and fun on the lake! | *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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