217 Garden Ln

Birmingham, AL 35215

Part of Large Alabama Portfolio

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3 bd, 1 ba | 1,092 sqft | Built in 1956

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For Sale

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List Price
$125,000

Initial Investment

$40,716
Pre-approval letter or proof of funds required.

Purchase Price

$125,000

Down Payment

25%

Rent

$750

Total Return

$30,586

Annualized Return

11.1%

Cap Rate

4.2%

Gross Yield

7.2%

Cash Flow

-$1,979

Appreciation

6.7%
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Features

Occupancy

Occupied

Lease Start

10/05/2017

Lease End

09/30/2022

Lot Size

10,150

HOA

None

Flood Risk

Not Required

  • Seller will not be making repairs or other physical changes to the property, but may be open to negotiating other offer terms. All condition details can be found in the inspection report under the "Analysis" tab.
  • There is an inspection contingency for the following item only:
Re-inspection Electrical: There is evidence of double tapped wiring present at the breaker panel which is a safety issue. Electrical panel is in closet and unable to completely access panel.
  • Tenant is responsible for the following: Gas, Electric, Water, Garbage, & Landscaping
  • Get more insight into this market here

See more in Analysis

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Annual Financial Highlights

Expected Rent

$8,550

Expenses

-$2,233

Property Taxes

-$1,500

Loan Payments

-$6,796

Net Cash Flow

-$1,979

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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