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$130,000

Under Contract
937 Morris Majestic Rd, Morris, AL 35116
2 Beds
0 Baths
1,552 Square Feet
0.00 Acres Lot
Built in 1895
Under Contract
Units n/a
Checked: 1 day ago
Updated: Jun 25, 2025 at 03:08AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$218
Cap Rate
8.3%
Cash-on-Cash Return
8.7%
Debt Coverage Ratio
1.32
Internal Rate of Return (5 years)
12.5%

Property Description


0.00 Acres Lot
Built in 1895
Under Contract
Units n/a

This delightful home offers character , charm and a place to make your own. Beautiful 1.5 acres offers lots of privacy. It is conveniently located just minutes to I65N. Step inside to soaring 20 foot ceilings in the living room and the warmth of a home with history. Originally built in 1895 as a two-room cottage, expanded in 1915 to include bedrooms and a bath. The carport has been converted into a large den. With two driveways offering easy access and plenty of parking. Homes with this character, acreage and price point don't last long- schedule your showing today. The property originally had 21/2 acres , the adjoining property owner is buying 1 acre m/l so we reduced the price and selling with 11/2 acre M/L

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement Description: Crawl Space

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Type: Gable or Hip

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 0700121000037.000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: 1-Story
  • Year Built: 1895

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Cooling: Central Air

Location

  • County: Jefferson

Listing Details


Listed by:
Linda Willis
Magnolia Real Estate Group LLC
(205) 281-2143

Source:
Greater Alabama MLS
MLS#: 21418467
Greater Alabama MLS

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$218
Cap Rate
8.3%
Cash-on-Cash Return
8.7%
Debt Coverage Ratio
1.32
Internal Rate of Return (5 years)
12.5%

Purchase Details

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Purchase price:
$130,000
Amount financed:
-$104,000
Down payment:
$26,000
Closing costs:
$3,900
Rehab costs:
$0
Initial cash invested:
$29,900
Square feet:
1,552
Cost per square foot:
$84
Monthly rent per square foot:
$0.84

Financing Details

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Loan amount:
$104,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$679
Property tax:
$0
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$770

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$325-$3,900

Cash Flow


Monthly Yearly
Net operating income:
$897 $10,764
Mortgage payments:
-$679 -$8,148
Cash flow:
$218 $2,616