This property is proof that even in RED HOT markets like Huntsville that you can still get properties that were built after 2000 if you are willing to go just a little further out from town! Plenty of people commute into Huntsville from Ardmore, Harvest, Toney and other surrounding towns. In fact many Southerners in particular prefer being away from the hustle and bustle of the bigger cities. It's rare that someone can rent a home in school districts this good as most of the homes are owner occupant new builds in this area. This home has tremendous upside, and I have a strategy that I think would be a huge winner! My belief that this home can rent for $900 per month maybe even $950 as is, however 1,160 square feet isn't real huge, and it doesn't keep anyone except retirees very long as it's easy to outgrow. To me the best play is to enclose the side entry garage by framing out where the garage door is, putting in a window and some new vinyl siding. The house is on a crawl space and the garage goes right up to the kitchen, so why not put in a bathroom and have a huge master suite? As a 4/3 the home should be larger than 1,500 square feet and my guess is the rents could be $1,200-1,250. The conversion might cost $10,000-15,000 but if you got this home for $120,000 as a 4/3 and it rented for $1,200 per month that would be a great find! With that strategy there may be a good bit of instant equity!
The elementary and high schools are ranked a 7/10 by GreatSchools.org and the middle school (they always rank lower - tough time of life for kids) is 6/10. As you look at the demographics you will find that not only is this a much newer home than you would normally get, but it's a quiet community that people really enjoy living in, a great place to raise a family.
We don't think there will be much to do on this home, but during the due diligence period we can likely negotiate any small repairs.
This property should rent for $900-925 as a 3/2 and $1,200-$1,250 per month as a 4/3 and should be an excellent cash flow, turn key, income producing property. The 3D Tour below is for a different house, and one for this home should be coming soon after renovations are complete! We don't have interior photos but are scheduled to get them Friday so we will try to get more pictures updated soon.