Bonnybrook Drive

Property Report for Bonnybrook Drive
Prepared by Fortnoff Financial, LLC
Bonnybrook Drive
Investment Property Report
Atlanta, GA
$165k Purchase Price
8.1% Cap Rate
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Property Report for Bonnybrook Drive
Prepared by Fortnoff Financial, LLC
Property Information
ADDRESS
2629 Bonnybrook Dr.
Atlanta, GA 30311
DETAILS
Beds / Baths:
4 / 3.5
Property Type:
House
Year Built:
1996
Square Footage:
2,550
Lot Size:
6,458 sq ft
Parking:
Garage
MLS Number:
13454837
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Property Report for Bonnybrook Drive
Prepared by Fortnoff Financial, LLC
Purchase & Returns
PURCHASE
RETURNS
Purchase Price:
$ 165,000
Cap Rate:
8.1%
New Mortgage:
-
$ 132,000
Cash on Cash:
12.4%
Down Payment:
=
$ 33,000
Return on Investment:
22.7%
Purchase Costs:
+
$ 5,750
Internal Rate of Return:
36%
Rehab Costs:
+
$ 1,925
Rent to Value:
1.4%
Total Cash Needed:
=
$ 40,675
Gross Rent Multiplier:
6.1
Price Per Square Foot:
$ 64.7
FINANCING
ASSUMPTIONS
Down Payment:
$ 33,000 (20%)
Vacancy:
10%
Mortgage Amount:
$ 132,000
Appreciation:
3% Per Year
Mortgage Term:
30 Years
Income Increase:
2% Per Year
Interest Rate:
4.75%
Expenses Increase:
2% Per Year
Mortgage Payment:
$ 689 Per Month
Selling Costs:
3% of Sales Price
$ 8,263 Per Year
Land Value:
$ 45,000
PURCHASE COSTS
REHAB COSTS
Home Inspection:
$ 300
Interior Paint:
$ 450
Appraisal:
$ 500
Fixtures & Lights:
$ 150
Closing Costs:
$ 4,950
New Appliances:
$ 1,200
Total:
$ 5,750
Landscaping:
$ 125
Total:
$ 1,925
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Property Report for Bonnybrook Drive
Prepared by Fortnoff Financial, LLC
Operation
Monthly
Yearly
$ 2,250
$ 27,000
OPERATION
Gross Rent:
Vacancy:
-
$ 225
-
$ 2,700
Other Income:
+
$ 107
+
$ 1,280
Operating Income:
=
$ 2,132
=
$ 25,580
Operating Expenses:
-
$ 1,023
-
$ 12,280
Net Operating Income:
=
$ 1,109
=
$ 13,300
Mortgage Payment:
-
$ 689
-
$ 8,263
Cash Flow:
=
$ 420
=
$ 5,037
Monthly
Yearly
Laundry:
$ 65
$ 780
Storage Rental:
$ 42
$ 500
Total:
$ 107
$ 1,280
Monthly
Yearly
Property Taxes:
$ 379
$ 4,550
Insurance:
$ 54
$ 650
Property Management:
$ 203
$ 2,430
Maintenance:
$ 225
$ 2,700
Capital Expenditures:
$ 113
$ 1,350
Landscaping:
$ 50
$ 600
Total:
$ 1,023
$ 12,280
OTHER INCOME
EXPENSES
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Property Report for Bonnybrook Drive
Prepared by Fortnoff Financial, LLC
Holding Projections
Year 1
Year 2
Year 3
Year 5
Year 10
Year 20
Year 30
$ 27,000
$ 27,540
$ 28,091
$ 29,226
$ 32,267
$ 39,334
$ 47,948
INCOME
Gross Rent:
Vacancy:
- $ 2,700
- $ 2,754
- $ 2,809
- $ 2,923
- $ 3,227
- $ 3,933
- $ 4,795
Other Income:
+ $ 1,280
+ $ 1,306
+ $ 1,332
+ $ 1,386
+ $ 1,530
+ $ 1,865
+ $ 2,273
Operating Income:
= $ 25,580
= $ 26,092
= $ 26,614
= $ 27,689
= $ 30,570
= $ 37,266
= $ 45,426
$ 4,550
$ 4,641
$ 4,734
$ 4,925
$ 5,438
$ 6,628
$ 8,080
EXPENSES
Property Taxes:
Insurance:
+ $ 650
+ $ 663
+ $ 676
+ $ 704
+ $ 777
+ $ 947
+ $ 1,154
Property Management: + $ 2,430
+ $ 2,479
+ $ 2,528
+ $ 2,630
+ $ 2,904
+ $ 3,540
+ $ 4,315
Maintenance:
+ $ 2,700
+ $ 2,754
+ $ 2,809
+ $ 2,923
+ $ 3,227
+ $ 3,933
+ $ 4,795
Capital Expenditures:
+ $ 1,350
+ $ 1,377
+ $ 1,405
+ $ 1,461
+ $ 1,613
+ $ 1,967
+ $ 2,397
Landscaping:
+ $ 600
+ $ 612
+ $ 624
+ $ 649
+ $ 717
+ $ 874
+ $ 1,066
Operating Expenses:
= $ 12,280
= $ 12,526
= $ 12,776
= $ 13,292
= $ 14,676
= $ 17,889
= $ 21,807
$ 25,580
$ 26,092
$ 26,614
$ 27,689
$ 30,570
$ 37,266
$ 45,426
- $ 12,280
- $ 12,526
- $ 12,776
- $ 13,292
- $ 14,676
- $ 17,889
- $ 21,807
Net Operating Income: = $ 13,300
= $ 13,566
= $ 13,838
= $ 14,397
= $ 15,894
= $ 19,377
= $ 23,619
Mortgage Payment:
- $ 8,263
- $ 8,263
- $ 8,263
- $ 8,263
- $ 8,263
- $ 8,263
- $ 8,263
Cash Flow:
= $ 5,037
= $ 5,303
= $ 5,575
= $ 6,134
= $ 7,631
= $ 11,114
= $ 15,356
CASH FLOW
Operating Income:
Operating Expenses:
EQUITY ACCUMULATION
Property Value:
$ 180,250
$ 185,658
$ 191,227
$ 202,873
$ 235,185
$ 316,069
Mortgage Balance:
- $ 129,963
- $ 127,827
- $ 125,588
- $ 120,778
- $ 106,554
Total Equity:
= $ 50,287
= $ 57,831
= $ 65,639
= $ 82,095
= $ 128,631 = $ 250,395 = $ 424,771
Depreciation:
$ 4,573
$ 4,573
$ 4,573
$ 4,573
$ 4,573
$ 4,573
$0
Mortgage Interest:
$ 6,226
$ 6,127
$ 6,024
$ 5,801
$ 5,142
$ 3,250
$ 209
Cap Rate:
7.4%
7.3%
7.2%
7.1%
6.8%
6.1%
5.6%
Cash on Cash:
12.4%
13%
13.7%
15.1%
18.8%
27.3%
37.8%
Return on Investment:
22.7%
53.9%
86.4%
155.5%
353.8%
880.5%
1630%
Internal Rate of Return:
36%
30.9%
28.5%
25.7%
22%
18.9%
17.6%
Rent to Value:
1.2%
1.2%
1.2%
1.2%
1.1%
1%
0.9%
Gross Rent Multiplier:
6.7
6.7
6.8
6.9
7.3
8
8.9
- $ 65,674
$ 424,771
- $0
TAX BENEFITS
RETURNS
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Property Report for Bonnybrook Drive
Prepared by Fortnoff Financial, LLC
Photos
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