Huntsville, AL SFH returning 5.8%

[Charles H.]

I am selling my SFHs for bigger deals. No issue with the house, I actually built it 2 years ago so it has the 8 year warranty for structure. I put a lot of upgrades in it when purchasing it. 

Located in Huntsville AL, center for Aerospace and Military engineering activities in the USA.

Tenant occupied since 2022. Never heard anything from him beside paying the bills. They want to renew for 18 months or more. I am a landlord since 2010, I consider them a "perfect tenant".

Numbers:

Income: 1950$. Offered new rent for $2050. I am still undermarket but it wouldn't be smart to lose this person.

Taxes: $1950

HOA: $600

Insurance: $1007 (statefarm)

NET: 21,050$ a year 

Reach out if interested :

For sale for $360,000 which is a 5.8% before depreciation.

https://www.zillow.com/homedetails/161-Riverfront-Dr-Madison...

House next door sold for 174$/sqft @ 350,000 1 month ago. Assuming similar pricing, and they didn't have upgrade, this would be $366,000.