1231 Devonshire Dr

Montgomery, AL 36116
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5 bd, 2 ba | 1,988 sqft | Built in 1960

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List Price
$135,000

Initial Investment

$36,788

Purchase Price

$135,000

Down Payment

25%

Rent

$1,350

Total Return

$44,604

Annualized Return

19.4%

Cap Rate

8.3%

Gross Yield

12%

Cash Flow

$3,049

Appreciation

3.8%
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Features

Occupancy

Occupied

Lease Start

08/03/2021

Lease End

07/31/2022

Lot Size

11,996

HOA

None

Flood Risk

Not Required

  • Highlights/Opportunity: Attractive cap rate
  • Improvements/Condition: Central heat and air
  • Tenant: Section 8
  • Items per the inspection report dated 4.11.22 (in inspections folder) the following items were noted:
(1) Exterior Walls: Soffit damage noted at several areas. Recommend repairs.
(2) Roofing: Patches and damaged shingles observed on the roof which can allow for water intrusion. Recommend evaluation and repairs by a qualified professional. (Safety)
(3) Common Areas: Wall damage at receptacle in the hall. Recommend repairs by a qualified professional.

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Annual Financial Highlights

Expected Rent

$15,390

Expenses

-$4,102

Property Taxes

-$900

Loan Payments

-$7,339

Net Cash Flow

$3,049

See more in Financials

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