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Investing on a Budget: Birmingham’s Hidden Gem Awaits! [Code: 433]

Posted by Powered by Simply Do It on November 19, 2024
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Why THIS deal??

  • ~$260/mo. cash flow once you can refi to 6.0% 
  • Cash flows at ~$178/mo. at today's rates of 6.875% 

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  • Single family home with 3 bedrooms and 2 bath
  • Perfect Starter Investment
  • Location has quick access to major commuting routes, shopping and schools
  • LOW entry point price. Perfect for a beginner! 
  • Great area per our local agent
  • Highly appreciating area with a strong rental market
  • Property has been on the market for 90 days
  • Price may be negotiable due to higher days on the market
  • Low HOA charges
  • #cashflow  #appreciation 

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

  • Built: 2005
  • Size: 1,374 square foot home
  • Low Crime, Desirable Community, B/C 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: Madison/Carter  – email directly at bir1@simplydoit.net

Code: 433



Property Specifications1
 Bedrooms3
 Bathrooms2
 Square Feet1374
 Year Built2005
 Garage Size0
 Schools Rating (scale 3-30, 30 is best)13
Lot size (sq ft)6,970
Purchase AssumptionsMy Offer
Offer used for analysis$205,000
Suggested offer (low)$205,000
Suggested offer (high)$210,000
Asking$214,000
Market Value (after improvements)$210,000
Day-1 Equity$5,000
Estimated Improvements (lower)$3,500
Estimated Improvements (upper)$5,500
Estimated Closing Costs$2,050
Estimated Mortgage Costs$1,435
Other Fees At Closing (pts, . . . )$1,435
Total Cost (estimated)$214,420
Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$61,500
 Financed Amount$143,500
 Interest Rate 6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment58.9%$943
 Cash Outlay (Total Out of Pocket) $70,920
Estimated Financial AssumptionsMonthlyYearly

Rent (upper)*
$1,600$1,650$19,800
Rent (lower)*$1,550$18,600
    
Property Taxes $100$1,200
Insurance $125$1,500
Repairs75$75$900
Property Management Monthly (%)8.0% 
Property Management Monthly ($)$128$1,536
Leasing Fee60%$40.0$480
HOA or Fixed Costs$25$300
Vacancy Rate 4.0% 
Total Fixed Expenses34.5%$552$6,623
Total Expenses (Fixed + Mortgage)$1,495$17,935
Financial Analysis / Deal Attractiveness   
Years:5101520
 Cap Rate3.0%4.7%6.6%8.7%
 Net Cash Flow$10,674$33,315$69,960$122,984
 Equity Increase$54,100$121,575$205,997$311,991
 Total Gain$64,774$154,890$275,957$434,975
      
 Average Cash Flow/Year$2,135$3,332$4,664$6,149
 Average Cash Flow/Month$178$278$389$512
 Average Gain/Year$12,955$15,489$18,397$21,749
 Average ROI91.3%218.4%389.1%613.3%
 Annual ROI18.3%21.8%25.9%30.7%
 Projected Property Value$255,497$310,851$378,198$460,136

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1413INSUFFICIENT
 Square Feet  1,0001,374FAVORABLE
 Bedrooms  33FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19702005FAVORABLE
 Average Cash Flow (at year 5)  $125$178FAVORABLE
 Average ROI (at year 5)  15%18.3%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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