What's Available Wednesday? A Birmingham Triplex!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!

Triplex

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

INCOME

Monthly rent collected: $1,800

EXPENSES

Monthly expenses (conservatively estimated)

Property taxes: $41

Insurance: $63

Property management fees: $144

Vacancy (7%): $126

Repairs (5%): $90

Total Monthly Expenses- $464

Net Income = Income – Expenses = $1,336

ADVANCED NUMBERS

Cap Rate = 10.35 %

annual net income (non-inclusive of mortgage payment) / purchase price

Cash-on-cash return =

Depends on your leveraging.

SPECIAL TERMS

  • 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 melissa@hipsterinvestments.com.

Take the plunge: you won’t regret it!

Want to see more deals like this?
We’ll send them to you!

Want to see more deals like this? We'll send them to you!

Comments
  • Ericka
    Reply

    stayed in hoover alabama for 6 months a great area to invest in. lots of companies and jobs.

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