$28,000
245 Flora St SW, Birmingham, AL 32511
Current Rent **
N/A
Projected Rent **
$700
High Return Rental Property
Rental property for sale with property management in place for an out of state buyer.
Property manager just walked the property and gave an estimate of $4950 to make rent ready. They handle the entire process.
245 Flora St SW Birmingham, AL 35211
2 bed 1 bath 624 Sq Ft
Rent $700
Asking $28000
Repairs $4950
ARV $45000
Gross Rent Return 25%
New roof last year, working central HVAC
There are vacant lots on each side of this house and the properties across the street look really good.
Repair Estimate included
Interior and exterior painting
Repair Door
Install AC vents
Repair stove plug
Kitchen flooring
Replace broken windows
Change locks
Clean interior
Landscaping
Termite inspection just completed on 5/25/21 with no issues found
Alabama is one of the more landlord friendly states and Birmingham is ranked as one of the top markets to purchase rental properties. There are a lot of positive metrics about the Birmingham real estate market in general and it is home to the 2022 World Games.
The property is priced for a cash buyer who can close quickly. Title work has already been completed and it is ready to close. Rare opportunity to find a light project in this price range with nicer neighboring properties.
Location:
245 Flora St SW, Birmingham, AL 32511
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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