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๐Ÿ (Mobile, AL) Buy & Hold Rents for $900! 2% Rule๐Ÿ 

Mobile County, Mobile, AL, 36605
Sold
Listed at: August 7th, 2024
Price
$20,000
ARV
$80,000
Gross Margin
$60,000
11 pictures, show all
Sq. Footage
615
Type
Single-Family
Parking
Driveway
Year build
1986
Lot size
0.10 acres
Bedrooms
1
Bathrooms
1
Half Bathrooms
0
Summary

๐Ÿ (Mobile, AL) Buy & Hold Rents for $900! 2% Rule๐Ÿ 

This vacant property in Mobile is available for just $20,000 and is perfect for those looking to add value with a little TLC. With a potential rent of $900 per month, this house beats the 2% rental rule, offering a fantastic return on investment. The home needs some work but offers plenty of potential to create a comfortable and appealing living space. Don't miss this opportunity to own a property in a desirable area at an unbeatable price!

"CLICK HERE" --> PHOTO LINK

 

STARTING PRICE: $20K

ARV: $80K

 

Perfect For:

๐Ÿ›  Fix/Flip

(Purchase Price) $20K + (Rehab) $30k = (Total Investment) $50k

(ARV) $80k - (Total Investment) $50k = (Gross Profit) $30k 

ARV Comps:

865 McQuillen St, Mobile, AL 36603 - SOLD $90,000

(Renovated 2 bedroom)

1106 Arlington St, Mobile, AL 36605 - SOLD $79,000

(Rental Rehab)

๐Ÿšช Buy and Hold

(Purchase Price) $20K + (Rental Rehab) $25k = (Total Investment) $45k

(Current Rent Rate) $900 - $1000mo

Rental Comps:

970 Gorgas St, Mobile, AL 36605 - Rent $1000/mo

(1 bed duplex)

802 Baltimore St, Mobile, AL 36603 - Rent $1150/mo

(2 bed House)

 

Property Overview:

๐Ÿ› 1 Bedrooms

๐Ÿ› 1 Bathroom

๐Ÿ“ 615 sqft of potential

๐Ÿ“… Built in 1986

 

Property Details:

๐ŸงฑExterior: Siding

โ€จ๐Ÿ Roof: Needs to be replaced

๐ŸฅตHVAC: No central heating or air

๐Ÿ’ฆHot Water Heater: Needs to be replaced

๐Ÿช Utilities: In good shape

Additional Insights:

๐Ÿš€ Area: Great rental area

๐Ÿšง Attention Required: Needs medium rehab

๐Ÿ”„ Vacancy: Will be delivered vacant

 

PLEASE CALL TO SCHEDULE SHOWINGS

205-907-0631

TENTATIVE CLOSE DATE ON OR BEFORE 08/25/2024

Street View
Location
current deal
comparables
#2
 available
$123k
 sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Eric Schaefer

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