415 Empire Rd

Montgomery, AL 36110
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3 bd, 1 ba | 1,198 sqft | Built in 1963

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List Price
$49,000

Initial Investment

$54,521

Purchase Price

$49,121

Down Payment

100%

Rent

$550

Total Return

$24,052

Annualized Return

8.6%

Cap Rate

9.0%

Gross Yield

13.4%

Cash Flow

$4,024

Appreciation

3.8%
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Features

Occupancy

Month To Month

Lease Start

01/01/2017

Lease End

M/M

Lot Size

9,248

HOA

None

Flood Risk

Not Required

  • Cash only
  • Attractive current market cash flow and cap rate
  • Seller is working on repairing the below items from inspection report making this an ideal property for a new or seasoned investor. Repairs will be done by close of escrow or seller will consider a repair credit:
(1) Exterior: Back of the house patio area has wood siding water damaged. Front right side of the house, right side of the house, and right back of the house all has water damage facia. This can allow for water intrusion. Recommend having contractor evaluate for replacement.
(2) Roof: Granule loss and damage to the roof and signs of past leaks on the interior ceiling. Recommend evaluation and repairs. Recommend evaluation and repairs.
(3) Windows: There are windows that are sealed shut which is a safety issue. Recommend repairs to functionality.
(4) Common Areas: Discoloration or mold like substance noted on the walls and ceilings. Recommend microbial remediation.
(5) Attic: Discoloration noted at the attic entrance. Recommend microbial remediation.
(6) HVAC: Burners did not engage during the inspection with normal thermostat controls. Recommend evaluation and repairs.
(7) Electrical: Service entry electrical mask is bent and leaning at the roof. Recommend having electrician evaluate for repairs if needed.
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Annual Financial Highlights

Expected Rent

$6,270

Expenses

-$1,846

Property Taxes

-$400

Loan Payments

$0

Net Cash Flow

$4,024

See more in Financials

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