New Construction in Tuscaloosa Metro
Northport, AL 35473
3 Beds - 2 Baths - 2 Car Garage
Square Feet1,272
Initial Market Value$253,900
Purchase Price$253,900
Downpayment$76,170
Loan Origination Fees$1,777
Depreciable Closing Costs$2,539
Other Closing Costs and Fixup$0
Initial Cash Invested$80,486
Cost per Square Foot$200
Monthly Rent per Square Foot$1.45
IncomeMonthlyAnnual
Gross Rent$1,850$22,200
Vacancy Losses($148)($1,776)
Operating Income$1,702$20,424
ExpensesMonthlyAnnual
Property Taxes($169)($2,031)
Insurance($95)($1,143)
Management Fees($108)($1,296)
Leasing/Advertising Fees$0$0
Association Fees($36)($432)
Maintenance($37)($444)
Other$0$0
Operating Expenses($445)($5,346)
Net PerformanceMonthlyAnnual
Net Operating Income$1,257$15,078
- Mortgage Payments($1,123)($13,480)
= Cash Flow$133$1,598
+ Principal Reduction$166$1,986
+ First-Year Appreciation$1,270$15,234
= Gross Equity Income$1,568$18,818
+ Tax Savings$111$1,336
= GEI w/Tax Savings$1,680$20,154
Mortgage InfoFirstSecond
Loan-to-Value Ratio70%0%
Loan Amount$177,730$0
Monthly Payment$1,123.37$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate6.500%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.12
Annual Gross Rent Multiplier11
Monthly Gross Rent Multiplier137
Capitalization Rate5.9%
Cash on Cash Return2%
Total Return on Investment23%
+ 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.