We are headed back to Birmingham this week. And not only that, but we found a fantastic triplex! Did you know that over 50% of the population in Birmingham rents? Really! Not only that, but jobs in medical research and banking drive the economy, and the unemployment rate is well below the national average.
Plus in the real estate investing market you’ll see fully-renovated single family homes, owner-occupied communities in good school districts, tenants and local property management in place, and more great deals for you!
LOCATION: Birmingham, AL.
Built In: 1965 (and fully renovated)
Purchase price: $155,000 (not a foreclosure, normal sale)
Property info: 6 bedrooms, 3 bathroom, 2,364 square feet, 1 story
Monthly rent collected: $1,800
Monthly expenses (conservatively estimated)
Property taxes: $41
Property management fees: $144
Vacancy (7%): $126
Repairs (5%): $90
Total Monthly Expenses- $464
Net Income = Income – Expenses = $1,336
Cap Rate = 10.35 %
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- Tenant in Place as Condition of Closing
- 1 year Scope of Work Warranty
- Requires Use of Seller’s Property Management Company
If you are interested in this property or seeing others like it, contact Melissa at email@example.com.
Take the plunge: you won’t regret it!