This week we found a property available in The Magic City, Birmingham! Did you know Birmingham has over a million people and climbing? 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: 2006 (and fully renovated)
Purchase price: $125,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 2 bathrooms, 1,300 square feet, 1 story, 2 car garage
Monthly rent collected: $1,400
Monthly expenses (conservatively estimated)
Property taxes: $54
Property management fees: $112
Vacancy (7%): $98
Repairs (5%): $70
Total Monthly Expenses- $367
Net Income = Income – Expenses = $1,033
Cap Rate = 9.91 %
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!