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Birmingham Beauty! [Code: 154]

Posted by Powered by Simply Do It on May 22, 2024
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Why THIS deal??
  • ~$256/mo. cash flow once you can refi to 6.0% 
  • Cash flows at ~$155/mo. at today's rates of 6.875%
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  • Single Family Home with 4 bedrooms and 2 full bathrooms
  • Hard flooring in most living spaces. Great for kids and pets! 
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area with strong rental market
  • Property has been on the market for 291 days so there could be room for negotiations
  • Good schools
  • No HOA charges
  • #cashflow  #appreciation

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

  • Built: 2007
  • Size:1,862 square foot home
  • Low Crime, Desirable Community, A/B Rated Schools

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 – email directly at birm1@simplydoit.net

Code: 154

Property Specifications1
 Bedrooms4
 Bathrooms2
 Square Feet1862
 Year Built2007
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)17
Lot size (sq ft)                 7,405

Purchase AssumptionsMy Offer
Offer used for analysis$250,000
Suggested offer (low)$250,000
Suggested offer (high)$278,000
Asking$278,000
Market Value (after improvements)$278,000
Estimated Improvements (lower)$2,000
Estimated Improvements (upper)$6,000
Estimated Closing Costs$2,500
Estimated Mortgage Costs$1,750
Other Fees At Closing (pts, . . . )$2,625
Total Cost (estimated)$260,875

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$75,000
 Financed Amount$175,000
 Interest Rate 6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment63.0%$1,150
 Cash Outlay (Total Out of Pocket) $85,875

 Estimated Financial AssumptionsMonthlyYearly
D

Rent (upper)*
$1,825$1,900$22,800
Rent (lower)*$1,750$21,000
    
Property Taxes $120$1,440
Insurance $150$1,800
Repairs75$75$900
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$146$1,752
Leasing Fee60%$45.6$548
HOA or Fixed Costs$0$0
Vacancy Rate 4.0% 
Total Fixed Expenses33.1%$604$7,245
Total Expenses (Fixed + Mortgage)$1,753$21,041

Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate2.2%3.8%5.6%7.6%
 Net Cash Flow$9,318$32,453$71,746$129,925
 Equity Increase$70,722$158,782$268,761$406,570
 Total Gain$80,040$191,235$340,507$536,495
      
 Average Cash Flow/Year$1,864$3,245$4,783$6,496
 Average Cash Flow/Month$155$270$399$541
 Average Gain/Year$16,008$19,124$22,700$26,825
 Average ROI93.2%222.7%396.5%624.7%
 Annual ROI18.6%22.3%26.4%31.2%
 Projected Property Value$338,230$411,508$500,662$609,132

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1417FAVORABLE
 Square Feet  1,0001,862FAVORABLE
 Bedrooms  34FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19702007FAVORABLE
 Average Cash Flow (at year 5)  $125$155FAVORABLE
 Average ROI (at year 5)  15%18.6%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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