Considering a single family home in Birmingham, AL

[Dave Williamson]

I'm currently considering a single family turnkey property in Birmingham with the following numbers. This property is completely renovated, all hardwoods for lower maintenance inside, new roof, new electrical, all new HVAC. The property is in a solid B neighborhood (Center Point/Roebuck). Is it a smart buy?

3 bedroom / 1.5 Bath

1250 sqft

I ran numbers on it and tried to be as conservative:

Purchase: $67,500
Cash To Close: $15,000
Monthly Rent: $800

Mortgage/tax/ins: $420
HOA: $0
PM: $80
Vacancy: 10% $80
Repairs: 7.5% $60
TOTAL: $640

Income - Expenses = Cash Flow -> 160

CAP Rate = 9.1%
Cash on Cash = 12.8%