PERFECT Birmingham Metro Home WITH Existing Tenant! [Code:1288]
- ~$395/mo. cash flow once you can refi to 5.25%
- Cash flows at ~$182/mo. at today's rates of 6.875%
- 155 Days on the Market. Great for negotiations!
- Currently leased for $2250
- Single family home with 4 bedrooms and 2 bathrooms
- Price has already been reduced by $25,100K since original listing date
- Great location with quick access to major commuting routes, shopping and schools
- Highly appreciating area
- Property has been on the market 155+ days
- Great schools
- Community Pool and other ammenities
- Currently leased at $2250/mo!
- Low HOA charges
- Hard flooring in all major living spaces. Perfect for families and pets!
- Attached 2-car garage
Why should you consider this house / what makes it a good investment?
- Built: 2006
- Size: 2,102 square foot home
- Low Crime, Desirable Community, A Rated Schools
What's next?
Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.
Metro: Birmingham
Team: Joel – email directly at bir2@simplydoit.net
Code: 1288
| Property Specifications | 1 |
| Bedrooms | 4 |
| Bathrooms | 2 |
| Square Feet | 2102 |
| Year Built | 2006 |
| Garage Size | 2 |
| Schools Rating (scale 3-30, 30 is best) | 19 |
| Lot size (sq ft) | 7405 |
| Purchase Assumptions | My Offer |
| Offer used for analysis | $290,000 |
| Suggested offer (low) | $290,000 |
| Suggested offer (high) | $295,000 |
| Asking | $299,900 |
| Market Value (after improvements) | $295,000 |
| Estimated Improvements (lower) | $6,500 |
| Estimated Improvements (upper) | $8,500 |
| Estimated Closing Costs | $2,900 |
| Estimated Mortgage Costs | $2,335 |
| Other Fees At Closing (pts, . . . ) | $2,030 |
| Total Cost (estimated) | $304,765 |
| Original listing date | 8/16/2023 |
| DOM (days on market – TODAY) | 155 |
| Financing Assumptions | |||
| Down Payment (%) | 30% | ||
| Down Payment Amount | $87,000 | ||
| Financed Amount | $203,000 | ||
| Interest Rate | 6.875% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | $1,334 | ||
| Cash Outlay (Total Out of Pocket) | $101,765 | ||
| Monthly | Yearly | |||
| Rent (upper)* | $2,125 | $2,250 | $27,000 | ||
| Rent (lower)* | $2,000 | $24,000 | |||
| Property Taxes | $162 | $1,948 | |||
| Insurance | $140 | $1,680 | |||
| Repairs | 75 | $75 | $900 | ||
| Property Management Monthly (%) | 8.0% | ||||
| Property Management Monthly ($) | $170 | $2,040 | |||
| Leasing Fee | 60% | $53.1 | $638 | ||
| HOA or Fixed Costs | $28 | $336 | |||
| Vacancy Rate | 4.0% | ||||
| Total Fixed Expenses | 33% | $707 | $8,480 | ||
| Total Expenses (Fixed + Mortgage) | $2,040 | $24,482 | |||
Disclaimer
Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.
The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.