3000 Shadow Lawn Drive, Huntsville, AL

$ 97,000 - Fix & Flip

4.0 bd | 2.0 ba | 1,256 sqft | 1960 yr | $ 975 Rent

Net Profit
All-in Cost to ARV
105.23 %
-14.89 %


This property we just put under contract and are determining the renovation scope right now.   It has hardwood floors that will be refinished, the garage has been converted to a fourth bedroom and will have a second bath.  The living room has large windows and a central hallway has three bedrooms and another bath.  The kitchen is large and has nice brick that will be painted and provide a trendy urban loft feel.  The kitchen cabinets will be painted and receive new granite.  The bathroom in the hall will be gutted to the studs, receive some new sheetrock, new tile tub/shower surround to the ceiling, new valves, stems sand trim kits, new bathroom vanity and faucet, and luxury vinyl plank.  The master bath will also be completely new.  The home will receive new lighting and some electrical upgrades, and there will be new interior and exterior paint.  This home seems to have a very good roof, and the hvac looks to have been recently replaced and can likely just be serviced.  We will try to get an accurate square footage on this home, Zillow shows 1,056 and that won't include the enclosed garage area, and we estimate that to be about 200 square feet.  An appraisal will get very close on that.

The subdivision has had several full renovations recently and prices are really starting to go up!  We have personally done 6 or 7 homes in this neighborhood.  It's close to shopping, main roads that get tenants quickly to jobs and downtown Huntsville.  Homes in the neighborhood that are renovated to a much lesser level

This property should rent for $900-$950 per month and should be an excellent cash flow, turn key, income producing property. This virtual tour is for a different property and exemplifies the quality work that our vendors try to provide.

Fix & Flip Analysis

  • ARV: $97,000
  • Net Profit: $-15,197
  • All-in Cost to ARV: 105.23 %

Financial Analysis

  • Loan Amnt: $ 72,750.00
  • All-in Cost: $ 102,071.07
  • Debt Coverage Ratio: 1.88 %
  • Total Out of Pocket: $ 29,321.07
  • Monthly Mortgage: $ 368.61

Expense Assumptions

  • Prop Insurance: $ 800.00
  • Annual Vacancy: $ 585
  • Prop Mgmt Fee: $ 1,111.50
  • Maintenance Cost: 555.75
  • 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: $ 970
  • Rental Holding Period: 4.00

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