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PERFECT Birmingham Metro Home WITH Existing Tenant! [Code:1288]

Posted by Powered by Simply Do It on January 19, 2024
0
Why THIS deal??
  • ~$395/mo. cash flow once you can refi to 5.25% 
  • Cash flows at ~$182/mo. at today's rates of 6.875%
  • 155 Days on the Market.  Great for negotiations!
  • Currently leased for $2250
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  • Single family home with 4 bedrooms and 2 bathrooms
  • Price has already been reduced by $25,100K since original listing date
  • Great location with quick access to major commuting routes, shopping and schools
  • Highly appreciating area
  • Property has been on the market 155+ days
  • Great schools
  • Community Pool and other ammenities
  • Currently leased at $2250/mo!
  • Low HOA charges
  • Hard flooring in all major living spaces. Perfect for families and pets!
  • Attached 2-car garage

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

  • Built: 2006
  • Size: 2,102 square foot home
  • Low Crime, Desirable Community, A 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: Joel  – email directly at bir2@simplydoit.net

Code: 1288

Property Specifications1
 Bedrooms4
 Bathrooms2
 Square Feet2102
 Year Built2006
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)19
Lot size (sq ft)7405

Purchase AssumptionsMy Offer
Offer used for analysis$290,000
Suggested offer (low)$290,000
Suggested offer (high)$295,000
Asking$299,900
Market Value (after improvements)$295,000
Estimated Improvements (lower)$6,500
Estimated Improvements (upper)$8,500
Estimated Closing Costs$2,900
Estimated Mortgage Costs$2,335
Other Fees At Closing (pts, . . . )$2,030
Total Cost (estimated)$304,765
Original listing date8/16/2023
DOM (days on market – TODAY)155

Financing Assumptions 
 Down Payment (%)30%
 Down Payment Amount$87,000
 Financed Amount$203,000
 Interest Rate6.875%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,334
 Cash Outlay (Total Out of Pocket)$101,765

Estimated Financial Assumptions
MonthlyYearly
Rent (upper)*$2,125$2,250$27,000
Rent (lower)*$2,000$24,000
 
Property Taxes$162$1,948
Insurance$140$1,680
Repairs75$75$900
Property Management Monthly (%)8.0%
Property Management Monthly ($)$170$2,040
Leasing Fee60%$53.1$638
HOA or Fixed Costs$28$336
Vacancy Rate4.0%
Total Fixed Expenses33%$707$8,480
 Total Expenses (Fixed + Mortgage)$2,040$24,482

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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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