What's Available Wednesday? Birmingham!This week we found a property available in The Magic City, Birmingham! 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!

Single-Family Home

LOCATION: Birmingham, AL.

Built In: 1965 (and fully renovated)

Purchase price: $85,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 1 bathroom, 1,052 square feet, 1 story

INCOME

Monthly rent collected: $1,000

EXPENSES

Monthly expenses (conservatively estimated)

Property taxes: $93

Insurance: $33

Property management fees: $80

Vacancy (7%): $70

Repairs (5%): $50

Total Monthly Expenses- $326

Net Income = Income – Expenses = $674

ADVANCED NUMBERS

Cap Rate = 9.51 %

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!

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