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🔥🔥 Awesome Birmingham Metro Deal for YOU! 🔥🔥 [Code:224]

Posted by Powered by Simply Do It on October 17, 2024
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Why THIS Deal??
  • ~$268/mo. cash flow once you can refi to 5.25% 
  • Cash flows at ~$150/mo. at today's rates of 6.375%
  • Single-family detached home with 4 bedrooms and 2 full bathrooms
  • Highly appreciating area with a strong rental market
  • Property has been on the market for 65 days
  • Perfect for beginner investors! 
  • Lower initial investment requirement
  • Hard flooring in all main living areas.  Great for kids and pets! 
  • Effort Level: 5/10  
  • Learn more about the Effort Level Scale

Why should you consider this house / what makes it a good investment?

  • Built: 2007
  • Size:1,749 square foot home

What's next?

Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.

Metro:  Birmingham

Team: Carter/Madison  – email directly at bir1@simplydoit.net

Code: 224



Property Specifications1
 Bedrooms4
 Bathrooms2
 Square Feet1759
 Year Built2007
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)15
Lot size (sq ft)7,405


Purchase AssumptionsMy Offer
Offer used for analysis$235,000
Suggested offer (low)$235,000
Suggested offer (high)$245,000
Asking$245,000
Market Value (after improvements)$247,500
Day-1 Equity$12,500
Estimated Improvements (lower)$3,500
Estimated Improvements (upper)$5,500
Estimated Closing Costs$2,350
Estimated Mortgage Costs$1,645
Other Fees At Closing (pts, . . . )$1,645
Total Cost (estimated)$245,140

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$70,500
 Financed Amount$164,500
 Interest Rate 6.375%
 Mortgage Term (Years)30
 Monthly Mortgage Payment59.9%$1,026
 Cash Outlay (Total Out of Pocket) $80,640

Estimated Financial Assumptions
 MonthlyYearly
Rent (upper)*$1,713$1,750$21,000
Rent (lower)*$1,675$20,100
    
Property Taxes $145$1,740
Insurance $150$1,800
Repairs75$75$900
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$137$1,644
Leasing Fee60%$42.8$514
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses35.8%$613$7,354
Total Expenses (Fixed + Mortgage)$1,639$19,669

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate2.2%3.8%5.6%7.5%
 Net Cash Flow$9,004$30,673$67,171$121,024
 Equity Increase$64,355$144,344$243,988$368,415
 Total Gain$73,359$175,017$311,159$489,439
      
 Average Cash Flow/Year$1,801$3,067$4,478$6,051
 Average Cash Flow/Month$150$256$373$504
 Average Gain/Year$14,672$17,502$20,744$24,472
 Average ROI91.0%217.0%385.9%606.9%
 Annual ROI18.2%21.7%25.7%30.3%
 Projected Property Value$301,122$366,360$445,734$542,303

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1415FAVORABLE
 Square Feet  1,0001,759FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19702007FAVORABLE
 Average Cash Flow (at year 5)  $125$150FAVORABLE
 Average ROI (at year 5)  15%18.2%FAVORABLE

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Disclaimer

Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info. 

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