House in Alabama

Address: 3009 Susan Dr Montgomery 36116

Approximate value $: 85,000

3 high-producing rental houses in Montgomery for trade for house in Auburn, or for sale. You may know someone looking for an outstanding investment, secured by real estate, long-term tenants, and with proven reliability that is much steadier than paper assets. If so, I will love to pay you or whoever, a finder's fee or commission.

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Here is what I have in Montgomery, Alabama:

1. House with mortgage, Susan Drive, 36116 (Woodley). Appraised @ $82,000 (2008). Principal balance: $52,000. Rent: $750/month.
2. House owned clear. Windsor Ave, 36107 (Capitol Hts). Appraised @ $86,000 (2009). Rent: $800/month.
3. House owned clear. Gaston Ave, 36105. Comps @ $54,000 (2008). Rent: $550/month.

Total market value: $221,000.

Priority house to sell: Susan Drive.
Mortgage balance on Susan Drive house: $52,000. Payments: $6,186/year. Rent: $750/month.

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Gross rental income: $25,200/year, $2,100/month.

Depreciation (Straight Line): $8,724.

Expenses (Tenants pay all repairs and maintenance).
Taxes: $1,105/year.
Landlord Insurance: $1,592/year.
Home Warranties: $1,114/year.
Total Expenses: $3,811.

Current Return on equity (including tax benefits): 56%

Buy the package and retire with an extra $2000 per month. Or, buy only one.

Or, trade me your house near Auburn/Opelika for these three homes.

In exchange for House in Alabama, 36830

Approximate value $ : 250,000

Near Auburn/Opelika, preferably near Ogletree School.

ID: 9903, Submitted: 11/20/2010 12:17:19, Updated: 11/20/2010 12:17:19, Visitors: 6299