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Updated over 5 years ago on . Most recent reply
Duplex construction oppurtunity
Twelve Duplexes | ||||
Property Information and Income Potential | ||||
Units | Description | Square Footage | Monthly Rent | Income |
24 | 3 Bedroom, 2 Bath | 1400 | $ 1,400.00 | $ 33,600.00 |
Total Income | $ 33,600.00 | |||
Development and Construction Cost | ||||
Quantity | Description | Unit Cost | Total Cost | |
12 | Lots | $ 15,000.00 | $ 180,000.00 | |
33600 | Construction | $ 89.00 | $ 2,990,400.00 | |
Total Cost | $ 3,170,400.00 | |||
Financing Details | ||||
Estimated Appraised Value | $ 3,588,000.00 | |||
Requested Loan to Value | 80.00% | |||
Total Loan | $ 2,870,400.00 | |||
Down Payment | $ 300,000.00 | |||
Term | 20 Years | |||
Rate | 5.25% | |||
Monthly Payment | $ 19,343.00 | |||
Property Expenses (Monthly) | ||||
Note Payment | $ 19,343.00 | |||
Vacancy Rate 2% | $ 672.00 | |||
Management 7% | $ 2,352.00 | |||
Maintenance 7% | $ 2,352.00 | |||
Property Taxes | $ 2,800.00 | |||
Insurance | $ 1,400.00 | |||
Total Expenses | $ 28,919.00 | |||
Perfomance | ||||
Caitalization Rate | 9.09% | |||
Net Monthly Income | $ 4,681.00 | |||
Annual Income | $ 56,172.00 | |||
Debt Coverage Ratio | 1.73706250323114 |