Cash generating rental exceeding the 1% rule

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Cash generating rental exceeding the 1% rule

Member since 2020 · 10 posts · 1 vote

3719 McClellan Ave - Brighton, AL
$62,500

A Great investment property 2/1 tenant occupied paying $700/month. The tenant is there for years, very satisfied and interested in staying for years to come.
It's an old lease and the price should be updated to around $850 (Average monthly rent is $869 on Rentomoter)
The big kitchen features solid wood cabinets with tons of storage and is fully equipped with appliances. 2 good-sized bedrooms share a full bathroom with a tub/shower combo. Great front porch. Large 1-car detached garage on the side of the home with carport parking.
Nothing to be done or updated, it's more than move-in ready, already with a happy tenant in place. Well exceeded the 1% rule even before updating the monthly rent to meet the market's average.

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