Off-Market Rental with New HVAC, Metal Roof – Easy Birmingham Buy & Hold
-
Single Family House -
3 -
1 -
1960 -
1229 -
7000 -
Detached Garage
Description
We’ve got a solid rental opportunity that’s basically rent-ready and perfect for investors looking for cash flow without a full rehab.
This 3 bed / 1 bath property is in great shape with a metal roof (2018), new HVAC, and only needs light cosmetics and partial flooring. The garage door may need replacing, and the back deck can be removed—not replaced as it isn't very usable.
It's perfect for Section 8 tenants with an estimated rent of $1,420/month and very manageable monthly expenses. Projected net monthly cash flow is over $850, giving you an estimated 11.6% cash-on-cash return in year one
Total investment is under $90K, which crushes the 1% rule!
Condition
- Roof: Metal 2018
- HVAC: 1 yrs old
- HWH: 2016
- Needs partial flooring updates
- Light Cosmetics
- Garage door may need replacing
- Back deck can be removed and not replaced (see pics)
Financials and Rental Cash Flow Analysis
ARV: $116,500
Rental Potential Option:
- Estimated Repairs: ~$12,000+
- Buyer's Total Investment: $87,900
- Section 8 Rental Estimate: $1,420/mo
- Estimated Monthly Expenses:
- Property Management (10%) $142
- Taxes: $104.39
- Insurance: $150
- Maintenance Reserve: $100
- Vacancy Reserve (5%): $71
- Total Expenses: $567.39
- Net Monthly Cashflow: $852.61
- Annual Cash Flow: ~$10,230
- Cash-on-Cash Return (Year 1): ~11.6%
Estimated Spread
- ARV $116,500
- Price $74,700
- Spread $41,800
DOCS
| File Name | Size | |
|---|---|---|
945_47th_Street_Ensley_comparable_1746404670_4604.pdf |
38kb
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Download |
