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Birmingham Rental with amazing potential code [1252]

Posted by Powered by Simply Do It on February 11, 2022
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  • 3 bedroom 2.5 bath single family residence
  • Highly sought after neighborhood
  • No (low) crime area
  • Around $300/mo. cash flow
  • Move-in ready for a renter
  • 2 car detached garage
  • The main level includes an open concept floor plan for easy entertaining and family living
  • New owners will enjoy an upgraded kitchen with stainless steel appliances, refinished countertops & cabinets
  • Covered outdoor sitting area that opens to a large yard fenced yard
  • A wood burning fireplace w/ marble surround and crown molding round out the first floor

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

  • Built: 2006
  • Size: 1,704  sq ft
  • Quiet residential street, Desirable community, good 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: Don/Carter – email directly at bir1@simplydoit.net

Code: 1252



Property Specifications 1
 Bedrooms 3
 Bathrooms 2.5
 Square Feet 1704
 Year Built 2006
 Garage Size 2
 Schools Rating (on scale of A-F) B+

Purchase Assumptions My Offer
Offer used for analysis $250,000
Suggested offer (low) $250,000
Suggested offer (high) $250,000
Asking $250,000
Market Value (after improvements) $250,000
Improvements (lower) $1,500
Improvements (upper) $2,500
Closing Costs $2,500
Mortgage Costs $2,500
Other Fees At Closing $0
Total Cost  $257,000

Financial Assumptions Monthly Yearly
Rent (upper) $1,688 $1,875 $22,500
Rent (lower) $1,500 $18,000
 Property Tax Rate (Approx.) 1.0%  
 Property Taxes $105 $1,260
 Insurance $105 $1,260
 Repairs $75 $900
Variable-Cost PM 8.0%  
Property Management Fee $135 $1,620
 Leasing Fee 60% $42.2 $506
 HOA $28 $336
 Vacancy Rate 4.0%  
 Total Fixed Expenses $552 $6,627
 Total Expenses (Fixed + Mortgage) $1,434 $17,208

Financial Analysis / Deal Attractiveness        
Years: 5 10 15 20
 Cap Rate 5.2% 6.2% 7.4% 8.6%
 Net Cash Flow $17,991 $43,360 $76,875 $119,385
 Equity Increase $72,419 $160,469 $267,524 $397,685
 Total Gain $90,410 $203,829 $344,399 $517,070
           
 Average Cash Flow/Year $3,598 $4,336 $5,125 $5,969
 Average Cash Flow/Month $300 $361 $427 $497
 Average Gain/Year $18,082 $20,383 $22,960 $25,854
 Average ROI 130.1% 293.3% 495.5% 744.0%
 Annual ROI 26.0% 29.3% 33.0% 37.2%
 Projected Property Value $304,163 $370,061 $450,236 $547,781

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B B FAVORABLE
 Square Feet   1000 1,704 FAVORABLE
 Bedrooms   3 3 FAVORABLE
 Bathrooms   2 2.5 FAVORABLE
 Year Built   1970 2006 FAVORABLE
 Rent/Price (%)   0.75% 0.75% FAVORABLE
 Average Cash Flow (at year 5) $125 $300 FAVORABLE
 Average ROI (at year 5) 15% 26.0% 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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