Mercedes Model in Ocala
Ocala, FL 34481
New Construction-Rent Ready
| Square Feet | 1,127 | | Initial Market Value | $220,900 | | Purchase Price | $204,900 | | Downpayment | $51,225 | | Loan Origination Fees | $3,458 | | Depreciable Closing Costs | $6,147 | | Other Closing Costs and Fixup | $3,000 | | Initial Cash Invested | $63,830 | | Cost per Square Foot | $182 | | Monthly Rent per Square Foot | $1.60 |
| Income | Monthly | Annual |
|---|
| Gross Rent | $1,800 | $21,600 | | Vacancy Losses | ($108) | ($1,296) | | Operating Income | $1,692 | $20,304 |
| Expenses | Monthly | Annual |
|---|
| Property Taxes | ($256) | ($3,074) | | Insurance | ($48) | ($574) | | Management Fees | ($135) | ($1,624) | | Leasing/Advertising Fees | $0 | $0 | | Association Fees | $0 | $0 | | Maintenance | ($36) | ($432) | | Other | $0 | $0 | | Operating Expenses | ($475) | ($5,704) |
| Net Performance | Monthly | Annual |
|---|
| Net Operating Income | $1,217 | $14,600 | | - Mortgage Payments | ($1,021) | ($12,256) | | = Cash Flow | $195 | $2,344 | | + Principal Reduction | $130 | $1,564 | | + First-Year Appreciation | $2,438 | $29,254 | | = Gross Equity Income | $2,764 | $33,162 | | + Tax Savings | $65 | $781 | | = GEI w/Tax Savings | $2,829 | $33,943 |
| | Mortgage Info | First | Second |
|---|
| Loan-to-Value Ratio | 75% | 0% | | Loan Amount | $153,675 | $0 | | Monthly Payment | $1,021.37 | $0.00 | | Loan Type | Amortizing Fixed | | | Term | 30 Years | | | Interest Rate | 6.990% | 0.000% | | Monthly PMI | $0 | |
| Financial Indicators | |
|---|
| Debt Coverage Ratio | 1.19 | | Annual Gross Rent Multiplier | 9 | | Monthly Gross Rent Multiplier | 114 | | Capitalization Rate | 7.1% | | Cash on Cash Return | 4% | | Total Return on Investment | 52% | | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
| Assumptions | |
|---|
| Real Estate Appreciation Rate | 6% | | Vacancy Rate | 6% | | Management Fee | 8% | | Maintenance Percentage | 2% |
| Comments |
|---|
| Marion County-this home is located south of the World Equestrian Center and around the corner from Rainbow Springs State Park. Great location for seasonal or annual rental. Luxury upgrades in a simple, ranch style new construction home. Quartz counters, h |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
|
