Take Advantage of the Market and Put That CASH IN YOUR Pocket! [Code: 208]
- ~$250/mo. cash flow once you can refi to 6.0%
- Cash flows at ~$47 at today's rates of 7.375%
- Instant Equity of ~$15k
- Single family home with 3 bedrooms and 2 bathrooms
- Great location with quick access to major commuting routes, shopping and schools
- Highly appreciating area
- Price has already been reduced by $15k since the original listing date
- Property has been on the market 45+ days. Great for negotiation purposes.
- highly rated schools
- Located at the end of a cul-de-sac
- Close proximity to a great area for outdoor enthusiasts and families who love to stay active with either biking, fishing, swimming, hiking, walking
- 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: 1995
- Size: 1,838 square foot home
- Low Crime, Desirable Community, Highly 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: 208
| Property Specifications | 1 |
| Bedrooms | 3 |
| Bathrooms | 2 |
| Square Feet | 1838 |
| Year Built | 1995 |
| Garage Size | 2 |
| Schools Rating (scale 3-30, 30 is best) | 25 |
| Lot size (sq ft) | 9583 |
| Purchase Assumptions | My Offer |
| Offer used for analysis | $320,000 |
| Suggested offer (low) | $320,000 |
| Suggested offer (high) | $330,000 |
| Asking | $334,900 |
| Market Value (after improvements) | $340,000 |
| Estimated Improvements (lower) | $6,500 |
| Estimated Improvements (upper) | $8,500 |
| Estimated Closing Costs | $3,200 |
| Estimated Mortgage Costs | $2,576 |
| Other Fees At Closing (pts, . . . ) | $2,240 |
| Total Cost (estimated) | $335,516 |
| Original listing date | 10/26/23 |
| DOM (days on market – TODAY) | 46 |
| Financing Assumptions | |||
| Down Payment (%) | 30% | ||
| Down Payment Amount | $96,000 | ||
| Financed Amount | $224,000 | ||
| Interest Rate | 7.375% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | $1,547 | ||
| Cash Outlay (Total Out of Pocket) | $111,516 | ||
| Mortgage Acceleration | ||
| Applying annual Cash flow (EPP*) | $560 | |
| Applying monthly Cash flow (EPP*) | $47 | |
| Years to pay off mortgage | 27 | |
| Interest paid over 30 years | $329,558 | |
| Int. paid in 27 yrs, using EPP | $285,574 | |
| Your int. savings | $43,985 | |
| If you make an extra payment every year of $560 you will pay off your mortgage in 27 years, and save $43,985 on interest. | ||
| *extra principal payment | ||
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.