OUR PROPERTIES

Before And After

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 Feet1,417
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
IncomeMonthlyAnnual
Gross Rent (range 995-1050)$1,050$12,600
Vacancy Losses (Estimate)-$84-$1,008
Operating Income$966$11,592
ExpensesMonthlyAnnual
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)MonthlyAnnual
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 Ratio80%
Loan Amount$92,000
Monthly Payment-$493.88
Ammortization Months360
Loan Term30
Interest Rate5.00%

Assumptions

Appreciation Rate3%
Vacancy Rate8%
Maintenance Rate0%
5yr Value$132,250
Profit If Sold$39,235

Included

1 Yr Maintenance Warranty$500

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