New Construction in Huntsville Metro
Owens Cross Roads, AL 35763
3 Beds - 2 Baths - 2 Car Garage
Square Feet1,272
Initial Market Value$259,900
Purchase Price$259,900
Downpayment$77,970
Loan Origination Fees$1,819
Depreciable Closing Costs$2,599
Other Closing Costs and Fixup$0
Initial Cash Invested$82,388
Cost per Square Foot$204
Monthly Rent per Square Foot$1.49
IncomeMonthlyAnnual
Gross Rent$1,895$22,740
Vacancy Losses($152)($1,819)
Operating Income$1,743$20,921
ExpensesMonthlyAnnual
Property Taxes($173)($2,079)
Insurance($97)($1,170)
Management Fees($108)($1,296)
Leasing/Advertising Fees$0$0
Association Fees($23)($276)
Maintenance($38)($455)
Other$0$0
Operating Expenses($440)($5,276)
Net PerformanceMonthlyAnnual
Net Operating Income$1,304$15,645
- Mortgage Payments($1,150)($13,799)
= Cash Flow$154$1,846
+ Principal Reduction$169$2,033
+ First-Year Appreciation$1,300$15,594
= Gross Equity Income$1,623$19,474
+ Tax Savings$108$1,295
= GEI w/Tax Savings$1,731$20,769
Mortgage InfoFirstSecond
Loan-to-Value Ratio70%0%
Loan Amount$181,930$0
Monthly Payment$1,149.92$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate6.500%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage Ratio1.13
Annual Gross Rent Multiplier11
Monthly Gross Rent Multiplier137
Capitalization Rate6.0%
Cash on Cash Return2%
Total Return on Investment24%
+ Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc.
Assumptions
Real Estate Appreciation Rate6%
Vacancy Rate8%
Management Fee$108
Maintenance Percentage2%
Comments
Photos may be representative. A+ schools!
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.