Brrr property in Birmingham w/scope and contractor in place NICE

1 Reply

Price $80,000
Location 1508 Cedargate Circle , Birmingham, AL, 35235
Property Details

Single Family Residence

  • Current Rent: $1,200
  • Square Footage: 2011
  • Bedrooms: 3
  • Bathrooms: 3.0
  • Occupied: No
  • Lot Size:

This property is available for cash purchase, this is pre-renovation and read y to use the BRRR method.

Contractor is in place with the bid, and ready to go, or bring your own contractor. This is a very nice house, in a nice area. 

$150,000 ARV estimate
$ 1,500 rent estimate

$ 80,000 Purchase Price
$ 30,000- 35,000 renovation + plus $6000 project manager fee. Your choice how much you want to put into this house, the attached is the recommended scope of work.
(Flooring and A/C bid is high- we can do for less, estimated scope below is high end costs) 

$ 30k+ projected profit- room to refi and pull cash out. 

Property manager in place at 8%.

Add'l info:

This neighborhood's median real estate price is $138,564, which is more expensive than 62.4% of the neighborhoods in Alabama and 29.7% of the neighborhoods in the U.S.

The average rental price in this neighborhood is currently $1,550. The average rental cost in this neighborhood is higher than 94.3% of the neighborhoods in Alabama.

Grayson Valley/Chalkville/Roebuck (35235) This zip code grabs several areas, but is primarily located in the Clay Chalkville school zone. This zip code sits right beside Center Point, but in this area, you can usually expect to get a small premium in rent verses 35215. In the

  1. southern part of the zip code (Roebuck area), you are close to Saint Vincent Hospital with a great potential for qualified tenants. In the northern part of the zip code, you have the Clay Chalkville school zone that generally has a higher rating than comparable schools in Center Point and Roebuck. There are a good number of tenants looking specifically for properties with- in the Clay Chalkville school system. 

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