1508 Springlake Dr NE

Birmingham, AL 35215
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3 bd, 2 ba | 1,760 sqft | Built in 1966

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List Price
$94,000

Initial Investment

$25,987

Purchase Price

$91,000

Down Payment

25%

Rent

$975

Total Return

$40,085

Annualized Return

21.9%

Cap Rate

7.4%

Gross Yield

12.9%

Cash Flow

$1,227

Appreciation

6.7%
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Features

Occupancy

Occupied

Lease Start

06/01/2019

Lease End

05/31/2021

Lot Size

29,383

HOA

None

Flood Risk

Not Required

  • Attractive 3 bed 2 bath with attached 2 car garage
  • Below market rent
  • Fenced in backyard
  • Located at end of secluded cul-de-sac
  • Get more insight into this market here

MARKETS

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NEIGHBORHOOD

SCHOOLS

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Annual Financial Highlights

Expected Rent

$11,115

Expenses

-$3,040

Property Taxes

-$1,900

Loan Payments

-$4,947

Net Cash Flow

$1,227

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