Alabama
This property is in the Birmingham, AL market. We were able to secure it and renovate, adding a signed lease for occupancy shortly after the property was finished. Take a look at the before/after pictures below, as well as the rehab scope of work & the investor figures at the very bottom!
Street View
Kitchen
Living Room
Rehab Scope of Work
- Door repairs
- Sheetrock repairs
- New flooring
- New cabinets
- Misc plumbing repair & installation
- HVAC service
- Electrical repairs & service
- Roof repairs (replace missing shingles)
- Gutter cleaning & repair
- Pressure washing
- Landscaping
- Pain interior
1 year performance projection
| Square Feet | 1,417 |
| Market Value | $115,000 |
| Purchase Price | $115,000 |
| Downpayment | $23,000 |
| Closing Costs & Fees | $3,000 |
| Initial Cash Invested | $26,000 |
| Cost Per Square Foot | $81 |
| Monthly Rent Per S/F | $0.74 |
| Income | Monthly | Annual |
| Gross Rent (range 995-1050) | $1,050 | $12,600 |
| Vacancy Losses (Estimate) | -$84 | -$1,008 |
| Operating Income | $966 | $11,592 |
| Expenses | Monthly | Annual |
| Mortgage Payment | -$493.88 | -$5,926.51 |
| Property Taxes | -$58 | -$690 |
| Insurance | -$75 | -$897 |
| Management | -$84 | -$1,008 |
| Maintenance (Estimate) | $0 | $0 |
| Operating Expenses | -$710 | -$8,522 |
| Net Performance (Day 1) | Monthly | Annual |
| Net Operating Income | $256 | $3,070 |
| Debt Paydown | $111 | $1,327 |
| Total Return | $366 | $4,397 |
| Concession | |
| Cash Return (Actual Year 1) | 15.69% |
| Cash Return (Estimated w/ Vacancy) | 11.81% |
| Cash Return (Year Over Year) | 15.69% |
Mortgage Info
| Loan-to-Value Ratio | 80% |
| Loan Amount | $92,000 |
| Monthly Payment | -$493.88 |
| Ammortization Months | 360 |
| Loan Term | 30 |
| Interest Rate | 5.00% |
Assumptions
| Appreciation Rate | 3% |
| Vacancy Rate | 8% |
| Maintenance Rate | 0% |
| 5yr Value | $132,250 |
| Profit If Sold | $39,235 |
Included
| 1 Yr Maintenance Warranty | $500 |
NEW BOOK
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