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Updated almost 6 years ago on . Most recent reply
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Birmingham / Irondale Analysis
Hi!
I think I found a good REI deal in Irondale, AL (outside Bham)
I'm estimating a $130,000 purchase price, $1300 monthly rent. Here are my costs
- Maintenance reserve, 5%......$65
- Vacancy 5% .............................$65
- Management 10%...................$130
- Property Tax............................$114 (Jefferson County records show this as half this but realtor mentioned this number, getting clarification now)
- Insurance..................................$65
Anticipating some capex for a new driveway and repairing the crawlspace which had standing water in it.
Seems like a good deal otherwise. Thoughts?