New Construction in Birmingham Metro
Mount Olive, AL 35117
4 Beds - 2 Baths - 2 Car Garage
Square Feet | 1,774 | Initial Market Value | $299,400 | Purchase Price | $299,400 | Downpayment | $89,820 | Loan Origination Fees | $4,192 | Depreciable Closing Costs | $2,994 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $97,006 | Cost per Square Foot | $169 | Monthly Rent per Square Foot | $1.03 |
Income | Monthly | Annual |
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Gross Rent | $1,825 | $21,900 | Vacancy Losses | ($146) | ($1,752) | Operating Income | $1,679 | $20,148 |
Expenses | Monthly | Annual |
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Property Taxes | ($200) | ($2,395) | Insurance | ($112) | ($1,347) | Management Fees | ($108) | ($1,296) | Leasing/Advertising Fees | $0 | $0 | Association Fees | ($30) | ($360) | Maintenance | ($37) | ($438) | Other | $0 | $0 | Operating Expenses | ($486) | ($5,837) |
Net Performance | Monthly | Annual |
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Net Operating Income | $1,193 | $14,312 | - Mortgage Payments | ($1,308) | ($15,690) | = Cash Flow | ($115) | ($1,379) | + Principal Reduction | $200 | $2,399 | + First-Year Appreciation | $1,497 | $17,964 | = Gross Equity Income | $1,582 | $18,984 | + Tax Savings | $223 | $2,675 | = GEI w/Tax Savings | $1,805 | $21,659 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 70% | 0% | Loan Amount | $209,580 | $0 | Monthly Payment | $1,307.51 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.375% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 0.91 | Annual Gross Rent Multiplier | 14 | Monthly Gross Rent Multiplier | 164 | Capitalization Rate | 4.8% | Cash on Cash Return | -1% | Total Return on Investment | 20% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | $108 | Maintenance Percentage | 2% |
Comments |
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Photos may be representative. Furniture not included. | *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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