Price Drop: Strong Cash Flow on Palmetto

Asking $29,000 or best offer

We are selling our assignable purchase contract on the property below:

2305 Palmetto St
Montgomery, AL 36107
Zillow
Photos
Details:
  • 2bd/1ba with 1,098 sqft
  • Vacant
  • Closing on or before 2/25/2022
  • Market Rent: $700/month
ARV is $60,000 based on the following comps:
  • 204 S Panama St is a 3bd/1ba with 1,186 sqft that sold for $62,000 in October 2021
  • 2015 Greenville St is a 2bd/1ba with 820 sqft that sold for $52,000 in October 2021

Repairs:
 Roof: 3-tab shingles. Age unknown Consider replacing
 HVAC: The HVAC systems need to be replaced
 Flooring: The flooring in the kitchen can be updated and the wood flooring in the rest of the house just needs to be refinished
 Kitchen: The countertops in the kitchen can be updated, however, the appliances do need to be replaced

  Bathroom: The sink in the bathroom needs to be replaced, other than that cosmetic updates should do
  Windows: The wood windows are in fair condition but they need to be scraped and repainted
 Foundation: Built on a crawl space. No apparent issues with the foundation

 Other: The water heater is dated 2013

 
To submit an offer or set up a viewing please contact Eric at 334-319-8613 or email [email protected]

Our deals move fast. If you would like to lock the property up, we do accept sight-unseen, no-contingency cash offers.

Must close with Garry S McAnnally (Montgomery office)

$2,500 earnest money check required for all buyers.

Realtors, add your fee (whatever you like) and bring us a buyer!
 

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