Diamond in The Little Rough – Excellent Rental In A Very Desirable Part Of Birmingham AL – Need Some Work

Estimated all-in: $ 200,000
  • This house has been sitting on the market for quite some time.
  • We believe it was price incorrectly and they started with a very high price.
  • The house is not in bad shape but there’s definitely deferred maintenance that needs to be addressed, for example:
    • Repair of the front wood stairs
    • Multiple places that deciding needs to be repaired
    • Repair some of the gutters, downspouts and flashing
    • Power wash the entire house
    • Some tree trimming and landscaping, especially on the back side.
    • Possibly do some asphalt repair
    • Some ceiling repair in the simplest basement ceiling
  • We estimate that the word that needs to be done is approximately $25,000 to $30,000
  • Due to the work needs to be done we suggest an offer price of 175,000
  • This house and it’s location or worth the trouble for the right buyer.
  • It sounds like the seller is motivated

 

Your Opportunity

  • Acquire a property in a highly sought-after location at a price below market value, albeit one that demands some refurbishment.

  • The necessary renovations lean more toward cosmetic improvements, slightly exceeding the scope of our typical projects.

  • Our assessment suggests that these renovations should span a period of 3 to 5 weeks.

  • Although a cash offer is not mandatory for this property, presenting one with the option to expedite the closing process to 3 weeks, rather than four, can strengthen our position when making a lower offer.

 

Next Steps:

  1. Let us know if you have interest in this property
  2. Best would be if you put your specific questions together and send it to us: meet@simplydoit.net

 

 

DIR BHM 200k code 2232

 

 

Property Financial Data

(same data as in the PDF above)

FAQ

    • How much is the HOA?
      • $0/month
    • Can I buy with a mortgage?
      • Yes, and we have preferred lenders for you to use if you wish.
    •  
    • Do I have to use “your” lender?
      • Yes, we sure do.
    • Can I buy cash?
      • Yes, of course.
    • Can I buy more than 1 property?
      • Yes.
    •  

    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.

           

             

               

                • Updated On:
                • November 7, 2023
                • 3 Bedrooms
                • 2.5 Bathrooms
                • 2 Garages
                • Year Built: 1978
                Property Id : 60747
                Price: Estimated all-in: $ 200,000
                Bedrooms: 3
                Bathrooms: 2.5
                Year Built: 1978
                Garage: 2
                Garage Size: Car Garage
                Basement: Yes
                External Construction: Vinyl Siding, Wood Siding
                Rent (mo): 1650
                ROI (ann): 19
                Cashflow (mo): 450
                Property Taxes (mo): 100
                Insurance (mo): 100
                Repairs (mo): 85
                Management Fee (mo): 80
                Leasing Fee (ann): 525
                HOA (mo): 0
                Vacancy Rate (ann): 4
                Other Features
                back yard
                Basement Walkout
                deck
                fireplace
                front yard
                laundry
                private space
                recreation
                storage
                Unfinished Basement
                washer and dryer
                Transport
                Supermarkets
                Schools
                Restaurants
                Pharmacies
                Hospitals
                $ 1,198.10
                per month
                • Principal and Interest
                • Property Tax
                • HOA fee
                $ 948.10

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                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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