$238,000
3110 College Ave
Columbus GA, 31907
Financial Returns
FinancingCash Flow/mo: $551
CashCash Flow/mo: $1,622
24.91%IRR
7.98%CAP Rate
10.89%Cash On Cash
$0Equity
Property Information
- Beds: 4
- Baths: 2
- Sq Feet: 1,604
- Year: 1954
- Monthly Rent: $1,875
- Property Taxes: $780
- Annual HOA: $0
Rehabbed and being advertised for a tenant!
2% SELLER CONCESSIONS TOWARDS BUYERS CLOSING COSTS!
2 YEARS FREE PROPERTY MANAGEMENT! After that it is 8%.
RENT GUARANTEE. If the property is not rented yet, the seller will cover the rent minus $100 until it is rented. If it rents below the proforma amount, the seller will cover the difference with the first 12 months.
Financial Projections
Debt (176k, 172k, 166k, 149k) Equity (63k, 68k, 73k, 90k) Appreciation (12k, 38k, 67k, 152k) Cash Positioning (7k, 22k, 39k, 95k)
Financing Assumptions
| Loan Amount | $178,500 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $1,070 |
Initial Investment
| Down Payment (25%) | $59,500 |
| Credit From Seller | -$4,700 |
| Rehab Amount | $0 |
| Est Closing Cost (1%) | $2,380 |
| Points (2%) | $3,570 |
| Total Out Of Pocket | $60,750 |
Property KPI Without Financing
| Annual Cash Flow | $19,459 |
| All In Cost | $243,950 |
| Cap Rate | 7.98% |
Property KPI With Financing
| Annual Cash Flow | $6,616 |
| Total Out Of Pocket | $60,750 |
| Cash On Cash | 10.89% |
Swipe the table to see Year 1 to Year 10 →
| Annual Revenue Increase | 3% | 3% | 3% | 3% | |
| Annual Operating Expense Increase | 3% | 3% | 3% | 3% | |
| Annual Expense Ratio | 11.75% | 11.75% | 11.75% | 11.75% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $1,875 | $22,500 | $23,870 | $25,324 | $29,357 |
| Vacancy Rate (2%) | $38 | $450 | $477 | $506 | $587 |
| Gross Rental Income | $1,838 | $22,050 | $23,393 | $24,817 | $28,770 |
| Expenses | |||||
| Estimated Annual Property Taxes | $65 | $780 | $828 | $878 | $1,018 |
| Estimated Annual Homeowners Insurance | $96 | $1,150 | $1,220 | $1,294 | $1,500 |
| Maintenance & Repairs (3%) | $55 | $662 | $702 | $745 | $863 |
| Estimated Annual Prop Mgmt Fee (0%) | $0 | $0 | $0 | $0 | $0 |
| Estimated Annual HOA Dues | $0 | $0 | $0 | $0 | $0 |
| Utilities | $0 | $0 | $0 | $0 | $0 |
| Reserves | $0 | $0 | $0 | $0 | $0 |
| Total Expenses | $216 | $2,592 | $2,749 | $2,917 | $3,381 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $1,622 | $19,459 | $20,644 | $21,901 | $25,389 |
| Net Cashflow | $19,459 | $20,644 | $21,901 | $25,389 | |
| Cap Rate | 7.98% | 8.46% | 8.98% | 10.41% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $1,622 | $19,459 | $20,644 | $21,901 | $25,389 |
| Mortgage | $1,070 | $12,842 | $12,842 | $12,842 | $12,842 |
| Net Cashflow | $6,616 | $7,801 | $9,058 | $12,547 | |
| Cash On Cash | 10.89% | 12.84% | 14.91% | 20.65% | |
Property Photos
Projections assume 3% annual rent growth and 3% annual expense growth, based on the Turnkey End Buyer strategy. All figures are estimates for information only. Verify independently before investing.