2013 Fairbank Cir Chelsea, AL 35043
3bd, 2ba | 1,552sqft | Built in 2006
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Initial Investment
$177,524
List Price: $174,900
Purchase Price
$174,900
Down Payment
100%
Rent
$1,285

Total Return
$64,976
Annualized Return
7.1%
Cap Rate
6.0%
Gross Yield
8.8%
Cash Flow
$10,193
Appreciation
2.2%
Financing Options
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Property Management Options
  • (205) 940-6363 Ext. 3
    sales@gkhouses.com
    1701 Oxmoor Road
    Birmingham, AL 35209
    gkhouses
    Property Management Fee:
    8% of monthly rent collected
    Leasing Fee:
    50% of first month’s rent
    Renewal Leasing Fee:
    $150 flat fee
    Maintenance Fee:
    10% of total project cost
    Property Setup Fee:
    None
    Marketing Fee:
    None
    Project Management Fee:
    Time + Cost of Materials
    gkhouses currently has locations in Birmingham, Nashville, Chattanooga, and Little Rock. We specialize in single-family houses and currently manage over 1,700 houses for about 1,100 different investors and homeowners. Our clients range from real estate funds to investors in single-family homes to homeowners who need to rent their home for one reason or another. We have found that our clients trust us primarily for these three reasons: 1. We don't hire property managers. 2. We communicate using uncomfortable transparency. 3. We celebrate the tenant.
  • 205-682-9106
    jcook@ahiproperties.com
    8841 Helena Rd
    Pelham, AL 35124
    AHI Properties
    Property Management Fee:
    8% of monthly rent collected
    Leasing Fee:
    65% of first month's rent
    Renewal Leasing Fee:
    30% of first month's rent
    Maintenance Fee:
    None
    Property Setup Fee:
    None
    Marketing Fee:
    None
    Project Management Fee:
    10% of total project cost
    AHI Properties has been opening doors all over Alabama for over a decade. We have helped thousands of families make the transition to a new home and a new hometown. We're able to guide you one step at a time through each process. By providing all the services you need under one roof, AHI Properties can make moving a little less stressful. Whether you are looking for homes for rent, a professional property manager for your rental home, commercial property, or looking for a home to buy - call AHI. Our friendly and knowledgeable team of real estate professionals will help along the way.
  • Tips for Self Managing Properties
    You’ve invested in a Rental Property, and are thinking about managing the property yourself? Here are the items you need to be aware of: Renting, Operating, Risk Management
    Self manage / Other
    Renting
    • Get property ready
    • Advertise
    • Show the property
    • Applicant screening
    • Move in tenants

    Operating
    • Collect rent
    • Repair requests
    • Home inspections
    • Move out process

    Risk Management
    • Fair housing
    • Insurance liability
    • Property damage
    • Habitability issues
    • Legal costs
Property Characteristics
  • Buyer's Agent
    What is it?
    An experienced local broker will represent and assist you throughout the transaction. They will negotiate on your behalf, from your first offer through closing.
    Benefits
    • You can contact them with questions even before making an offer.
    • Plus, a professional home inspection will be conducted during closing, paid for by Roofstock. As soon as the inspection report is ready, your Buyer’s Agent will discuss the findings with you and help with any next steps.
    • There is no additional cost to having a Buyer’s Agent as their fees will be paid by the seller.
  • Inspection Contingency
    What is it?
    This option lets the buyer specify that the home be inspected within a specific time period, during which the buyer can negotiate price or repairs based on the inspector’s findings or cancel the contract. Prior inspection reports may be available in the diligence documents. In some instances, the property has an inspection report from more than 4 months ago and needs an updated inspection.
    Benefits
    • The seller may be more willing to negotiate with a buyer in contract.
    • Opportunity to negotiate a lower price or repairs if any issues are discovered during the inspection process.
    • Ability to have the earnest money deposit refunded if the transaction is cancelled before the inspection contingency termination date.
    How it Works
    • Roofstock can refer you to our certified property manager to help you understand the property report and next steps.
    • After the purchase agreement is signed, the buyer has 20 days from the date of the contract to hire a home inspector and conduct any negotiations with the seller if necessary. The home inspection typically costs $300-$500 and is paid by the buyer and includes instances where the inspection report is more than 4 months old. If the inspection is current and buyers are using a Roofstock inspector, inspection would be free of charge.
    • Once the buyer receives the inspection report containing details on the home’s condition and potential issues, the buyer can (1) remove the inspection contingency and continue with the closing process, (2) negotiate different terms with the seller based on the report findings, or (3) in extreme circumstances, terminate the purchase agreement and get their earnest money deposit back.
    • Any negotiation or termination must happen within the time period specified in the purchase agreement, unless otherwise agreed upon between buyer and seller.
    Terms
    The inspection contingency contains a termination date which the buyer must adhere to. The buyer must have the inspection completed, review the report and negotiate with the seller on the next steps within this agreed upon timeframe. If the termination date passes and the buyer has not terminated the agreement or come to an agreement with the seller, the buyer must continue based on the terms in the initial purchase agreement.
  • Roofstock Guarantee
    What is it?
    Our industry-leading guarantee allows you to invest with total confidence, regardless of whether the home is leased or vacant.
    Benefits
    • All properties come with our 30-day money back guarantee
    • Enjoy guaranteed rent on vacant, rent-ready properties starting 45 days after closing. Plus, you will also pay no monthly management fees until your property is leased.
    • This offer applies to all single-family properties and excludes duplexes, triplexes and fourplexes.
Investment Terms
Offer Terms Applicable to MLS Properties

In addition to the following terms, the specific terms and conditions applicable to your purchase of a property listed on the MLS are governed by the PSA negotiated and entered into by you and the seller.

  • When your offer is accepted, Roofstock will charge a marketplace fee to your credit card. The marketplace fee is equal to 0.5% of the initial contract price or $500, whichever is greater.
  • If your offer has a contingency and you cancel before the contingency termination date, the Marketplace fee will be refunded. It is non-refundable in all other cases.
  • If your offer comes with an inspection contingency that allows you to obtain, at our cost (if you use one of our inspection partners), a home inspection report, you will have a set number of days, as set forth in the PSA, to obtain and review the report and then either negotiate to reduce the price or cancel the transaction. If you timely cancel the transaction because of the report's findings, your earnest money deposit will be returned to you.
  • If you are financing your purchase, your offer may come with a financing and appraisal contingency that allows you to obtain financing for the purchase of the property. The timing of the appraisal and financing and your ability to cancel the transaction and receive a return or your earnest money deposit will be set forth in the PSA.
  • The closing date for your purchase will be set forth in the PSA.

Buyer's Agent Appointment

  • With your offer you are retaining Roofstock Realty LLC (RR) as your exclusive real estate broker to assist in purchasing the property, subject to the above Offer Terms.
  • You agree that RR is authorized to represent other interested users through the Roofstock marketplace for this property.
  • RR will not disclose the details of a buyer's offer to any other buyer. RR will remain neutral in presenting multiple offers from buyers it represents.
  • You knowingly and voluntarily wave any claim of conflict of interest as to RR representing multiple buyers on a property.
  • You are not a party to another exclusive representation agreement that could conflict with this provision.
  • If you do not cancel this appointment, RR will be compensated by seller and/or seller's broker at closing. This relationship will automatically terminate with no further action by either party and be of no further force of effect if: (a) your offer for the property is not accepted by the seller or (b) the PSA is terminated by seller or you, whichever is earlier.
  • You may cancel this appointment anytime by cancelling your offer or contacting your appointed Roofstock buyer’s agent. If you cancel this appointment and purchase the property within 3 months of the cancellation, you agree to compensate RR for any fee it would have earned at closing.
  • RR only represents buyers in this potential transaction. Seller is represented by the broker listed on the property page.

Certain Disclosures

  • You have reviewed the available financial and other information regarding the property made available on the Roofstock marketplace.
  • Roofstock's 30-day, money-back guarantee is available for this property provided you use one of Roofstock's inspection partners.
  • You believe that the property is suitable for your intended purpose.
  • Roofstock will provide buyer transaction management services.
  • You have received any disclosures required under state law.