New Construction in Birmingham Metro
Mount Olive, AL 35117
4 Beds - 2 Baths - 2 Car Garage
Square Feet | 1,774 | Initial Market Value | $301,900 | Purchase Price | $301,900 | Downpayment | $90,570 | Loan Origination Fees | $2,113 | Depreciable Closing Costs | $3,019 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $95,702 | Cost per Square Foot | $170 | Monthly Rent per Square Foot | $1.03 |
Income | Monthly | Annual |
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Gross Rent | $1,835 | $22,020 | Vacancy Losses | ($147) | ($1,762) | Operating Income | $1,688 | $20,258 |
Expenses | Monthly | Annual |
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Property Taxes | ($201) | ($2,415) | Insurance | ($113) | ($1,359) | Management Fees | ($108) | ($1,296) | Leasing/Advertising Fees | $0 | $0 | Association Fees | ($30) | ($360) | Maintenance | ($37) | ($440) | Other | $0 | $0 | Operating Expenses | ($489) | ($5,870) |
Net Performance | Monthly | Annual |
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Net Operating Income | $1,199 | $14,388 | - Mortgage Payments | ($1,336) | ($16,029) | = Cash Flow | ($137) | ($1,641) | + Principal Reduction | $197 | $2,362 | + First-Year Appreciation | $1,510 | $18,114 | = Gross Equity Income | $1,570 | $18,835 | + Tax Savings | $234 | $2,803 | = GEI w/Tax Savings | $1,803 | $21,638 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 70% | 0% | Loan Amount | $211,330 | $0 | Monthly Payment | $1,335.75 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.500% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 0.90 | Annual Gross Rent Multiplier | 14 | Monthly Gross Rent Multiplier | 165 | Capitalization Rate | 4.8% | Cash on Cash Return | -2% | 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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