New Construction in Huntsville Metro
Madison, AL 35756
4 Beds - 3 Baths - 2 Car Garage
Square Feet2,108
Initial Market Value$350,990
Purchase Price$350,990
Downpayment$105,297
Loan Origination Fees$2,457
Depreciable Closing Costs$3,510
Other Closing Costs and Fixup$0
Initial Cash Invested$111,264
Cost per Square Foot$167
Monthly Rent per Square Foot$1.14
IncomeMonthlyAnnual
Gross Rent$2,395$28,740
Vacancy Losses($192)($2,299)
Operating Income$2,203$26,441
ExpensesMonthlyAnnual
Property Taxes($234)($2,808)
Insurance($132)($1,579)
Management Fees($108)($1,296)
Leasing/Advertising Fees$0$0
Association Fees($36)($430)
Maintenance($48)($575)
Other$0$0
Operating Expenses($557)($6,688)
Net PerformanceMonthlyAnnual
Net Operating Income$1,646$19,753
- Mortgage Payments($1,553)($18,635)
= Cash Flow$93$1,117
+ Principal Reduction$229$2,746
+ First-Year Appreciation$1,755$21,059
= Gross Equity Income$2,077$24,923
+ Tax Savings$185$2,221
= GEI w/Tax Savings$2,262$27,144
Mortgage InfoFirstSecond
Loan-to-Value Ratio70%0%
Loan Amount$245,693$0
Monthly Payment$1,552.95$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate6.500%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.06
Annual Gross Rent Multiplier12
Monthly Gross Rent Multiplier147
Capitalization Rate5.6%
Cash on Cash Return1%
Total Return on Investment22%
+ Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc.
Assumptions
Real Estate Appreciation Rate6%
Vacancy Rate8%
Management Fee$108
Maintenance Percentage2%
Comments
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.