1159 16th Ave W

Birmingham, AL 35204
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4 bd, 1 ba | 1,112 sqft | Built in 1959

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Sold

Exclusive

List Price
$109,000

Initial Investment

$28,613
Pre-approval letter or proof of funds required.
Features

Occupancy

Occupied

Lease Start

10/30/2021

Lease End

09/30/2022

Lot Size

8,850

HOA

None

Flood Risk

Not Required

  • Complete turnkey investment property producing guaranteed rent on the Section 8 program
  • 10% rental increase built into the contract going into the second year
  • Located just minutes from the prestigious Birmingham Southern College, interstate and shopping in a thriving and appreciating area
  • The comps show $109k is already priced at a discount and yields a strong cap rate
  • This seller is a licensed management company, and one of our PPM's, with BBB A+ rating. They are offing a promo: maintenance and management fee FREE for ONE YEAR, increasing cap rate to 9.5%! That’s right, you retain 100% of the rent and they will pay for any maintenance requests (labor and materials)
  • This seller is also offering to pay for the buyer's appraisal if the offer is financed
See more in Analysis

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Annual Financial Highlights

Expected Rent

$11,594

Expenses

-$3,052

Property Taxes

-$1,300

Loan Payments

-$5,708

Net Cash Flow

$1,534

See more in Financials

Property Characteristics

Inspection Contingency

This home will be inspected after the offer is accepted and prior to closing, during which time you can negotiate price or repairs based on the inspector's findings or cancel the contract.
  • This property will be professionally inspected before closing.
  • You'll have the opportunity to negotiate a lower price or repairs if any issues are identified during the inspection process.
  • Your earnest money deposit will be refunded if you cancel the transaction before the inspection contingency termination date.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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