1170 Josephine Avenue, Prattville, AL

$ 143,500 - Fix & Flip

4.0 bd | 2.0 ba | 1,570 sqft | 1960 yr | $ 1,195 Rent

Net Profit
All-in Cost to ARV
77.19 %
13.22 %


This 4/2 brick home is in Prattville, which one prominent travel blog recently ranked the "Top Small Town in Alabama!"  The schools are the best in the Montgomery metropolitan area and a large portion of the military officers at Maxwell/Gunter Air Force Base move to this area so their children can attend these schools.  The area also boasts some of the nicest shopping districts in the area as well as the Bass Pro Shop which is a huge regional draw and is strategically located as Prattville has direct access to the Alabama River.   The Bobby Jones Golf Course and Marriott Conference Center and Resort Center are also in Prattville.  This home is located on a quite street and has an open and inviting floor plan.  It's on a huge lot, and the home has been very well renovated.  You'll appreciate the new granite, stainless steel range hood, stainless oven and dishwasher, kitchen cabinets, tile backsplash and tiled kitchen and bathroom floors.  The huge living room and formal dining room have gleaming hardwood floors which extend down the hall, and are found in three of the bedrooms.  Off the living room is an office area or piano conservatory with brick accent walls and luxury vinyl plank flooring.  The home has been painted with designer colors and features new lighting, new six panel doors, new door knobs, hinges and much attention to fine detail.  The bathrooms have new vanities, newly tiled floors, tub/shower surrounds, new trim kits, and they look like they are from Architectural Digest!  The exterior has fresh paint and a metal roof that provides an additional low maintenance option.  All of this and the opportunity to attract the best quality tenants in B quality home that is likely to get military tenants and could just as easily sell to an owner occupant.   This home offers good cash flow and appreciation potential.  The home next door has also been totally renovated and is on the market at similar pricing but it's much smaller.

Fix & Flip Analysis

  • ARV: $150,000
  • Net Profit: $15,313
  • All-in Cost to ARV: 77.19 %

Financial Analysis

  • Loan Amnt: $ 82,500.00
  • All-in Cost: $ 115,787.73
  • Debt Coverage Ratio: 2.05 %
  • Total Out of Pocket: $ 33,287.73
  • Monthly Mortgage: $ 418.02

Expense Assumptions

  • Prop Insurance: $ 800.00
  • Annual Vacancy: $ 717
  • Prop Mgmt Fee: $ 1,362.30
  • Maintenance Cost: 681.15
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 25.00 %
  • Points: 1.00
  • Interest Rate: 4.50 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 750
  • Rental Holding Period: 4.00

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