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Well Located Rented Home in Suburban Birmingham
Alabaster, AL 35007
Well Located Rented Home in Suburban Birmingham
Alabaster, AL 35007
5.7%
Year 1 Cap Rate$191,860
10 yr cash flow7.32%
10 yr IRRDetails
- Lot size9,035
- Rentable Sq.Ft1,310
- $/Rentable Sq.Ft$164
- Monthly rent$1,595
- Safety deposit$1,595
- Estimated reserve$3,500
- Lease start2023-12-01
- Lease end2024-11-30
- HOANo
- Flood zoneNo
COMING SOON - FIGURES SUBJECT TO CHANGE
Long-term investors stand to benefit from the following factors:
- Opportunity to purchased a renovated and rented home with operating history under current property management
- Attractive going-in basis for a well-located single family homes in a sunbelt metro with a strong rental demand
- Accessibility to a growing employment base in a highly affordable market
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Neighborhood
Niche grades and rankings use rigorously analyzed data and user opinions to assess the key aspects of this neighborhood.
Overall neighborhood score:
Alabaster, 35007
Cost Of Living
Good For Families
Good For Young Professionals
Housing
Jobs
Public Schools
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Financials
| Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
|---|---|---|---|---|---|
| Rental revenue | $19,140 | $19,810 | $20,503 | $21,964 | $26,086 |
| Vacancy & Collection Loss | ($957) | ($991) | ($1,025) | ($1,098) | ($1,304) |
| Operating revenues | $18,183 | $18,820 | $19,478 | $20,866 | $24,782 |
| Expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| HOA fees | ($0) | ($0) | ($0) | ($0) | ($0) |
| Insurance | ($1,504) | ($1,549) | ($1,595) | ($1,692) | ($1,962) |
| Utilities | ($0) | ($0) | ($0) | ($0) | ($0) |
| Leasing Fee | ($319) | ($330) | ($342) | ($366) | ($435) |
| Property management | ($1,020) | ($1,020) | ($1,020) | ($1,043) | ($1,239) |
| Real estate taxes | ($2,361) | ($2,432) | ($2,505) | ($2,657) | ($3,080) |
| Repairs and maintenance | ($479) | ($990) | ($1,025) | ($1,098) | ($1,304) |
| Operating expenses | ($5,683) | ($6,321) | ($6,487) | ($6,856) | ($8,020) |
| Net Operating Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Operating revenues | $18,183 | $18,820 | $19,478 | $20,866 | $24,782 |
| Operating expenses | ($5,683) | ($6,321) | ($6,487) | ($6,856) | ($8,020) |
| Net Operating Income | $12,500 | $12,499 | $12,991 | $14,010 | $16,762 |
| Cap Rate | 5.7% | 5.7% | 6.0% | 6.4% | 7.7% |
| Other income & expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| SHARE management | ($1,639) | ($1,689) | ($1,739) | ($1,845) | ($2,139) |
| Mortgage payments | $0 | $0 | $0 | $0 | $0 |
| Other income & expenses | ($1,639) | ($1,689) | ($1,739) | ($1,845) | ($2,139) |
| Cash flow & yield | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Cash flow | $10,861 | $10,810 | $11,252 | $12,165 | $14,623 |
| Cash yield | 4.7% | 4.7% | 4.8% | 5.2% | 6.3% |
Acquisition Equity
| Down payment | ($217,500) | |||
|---|---|---|---|---|
| Title insurance | ($3,263) | |||
| Debt costs | ||||
| Acquisition fee | ($7,500) | |||
| Home Buyer Inspection | ($500) | |||
| Leasing Fee | ($0) | |||
| Reserves | ($3,500) | |||
| Stabilization costs | ($0) | |||
| Total | ($232,263) | |||
Disposition Proceeds
| Estimated sale price | $308,569 | |||
|---|---|---|---|---|
| Disposition fee | ($3,086) | |||
| Other disposition costs | ($6,171) | |||
| Year 10 mortgage balance | ($0) | |||
| Total | $299,312 | |||
