
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 |

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