1000 12th St Midfield, AL 35228

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1000 12th St Midfield, Alabama 35228

Price: $79,995
Address: 1000 12th St
City: Midfield
State: AL
Zip: 35228
Bathrooms: 1
Bedrooms: 3
Fee: No
Seller Phone: 2055193772
Provided By: Automated Genius

Description:

Midfield is a high-demand and solid C neighborhood. Property taxes are low and rentals are known for low vacancy and infrequent turnover of tenants. This is a solid “break and butter” property for a balanced portfolio with a low entry price, all new systems and plenty of cash flow. Complete Turn Key renovation with a new roof, HVAC, hotwater heater, kitchen flooring, sink, stove, plumbing fixtures, and lighting. Renovations underway now to complete and be ready for tenants, inspection and appraisal on December 6, 2019. PRO FORMA ASSUMPTIONS Sale Price: $79,995 20% Down Payment: $15,999 Loan Amount: $63,996 Monthly Rent: $750 Monthly PI: $352 (30yr fixed at 5.5%) Monthly PITI: $435 Property Tax: $500 (Estimated for LLC Owner in 2020) Insurance: $500 (Estimated) Property Management: $810 (9%. 1st listing fee included in sale price) Repairs: $450 (Estimated at 5%) Vacancy: $450 (Estimated at 5%) Annual Expenses: $6,934 Gross Scheduled Income: $9,000 NET Annual Cash Flow: $2,066 NET Monthly Cash Flow: $172

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