3744 Princeton Rd

Montgomery, AL 36111
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5 bd, 2 ba | 1,987 sqft | Built in 1956

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List Price
$140,000

$10K

Initial Investment

$45,089

Purchase Price

$140,000

Down Payment

25%

Rent

$1,500

Total Return

$43,499

Annualized Return

16.5%

Cap Rate

8.9%

Gross Yield

12.9%

Cash Flow

$3,950

Appreciation

3.8%
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Features

Occupancy

Occupied

Lease Start

06/01/2022

Lease End

05/31/2023

Lot Size

19,541

HOA

None

Flood Risk

Not Required

  • Highlights/Opportunity: Strong cap rate
  • Tenant: Tenant is full Section 8
  • Location: 8 Colleges and universities located in Montgomery; Massive Student Market
  • Per the inspection report dated 4/20/2022, the following items were noted to repair. The items are numbered per inspection report and are pending repair:
(2) Structural: Damaged roof framing and decking noted in the attic. Recommend evaluation and repairs.
(3) Roof: Roof decking appeared to be damaged. Right side of roof appeared to be impact damaged. The gable vent has wood rot and is excessively damaged.
(4) Kitchen: Window was painted shut which is a safety issue. Recommend repairs.
(5) Bedroom 1: Window was painted shut which is a safety issue. Recommend repairs.
(7) Bedroom 5: Window was painted shut which is a safety issue. Recommend repairs.
(8) Bathroom 2: Window was painted shut which is a safety issue. Recommend repairs.
(9) Attic: Joist had been cut, other joist were damaged. Some mild discoloration was noted due to age and previous leaks. Recommend repairs and microbial remediation.

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Annual Financial Highlights

Expected Rent

$17,100

Expenses

-$4,639

Property Taxes

-$900

Loan Payments

-$7,611

Net Cash Flow

$3,950

See more in Financials

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