|Price/Rent PSF||$ 725,000.00|
|SQ. FT. Available||12,351|
Montgomery is a relatively large city located in the state of Alabama and is also the state capital. With a population of 199,518 people and 58 constituent neighborhoods, Montgomery is the second largest community in Alabama. With its deep history, Montgomery offers a rich history, incredible job opportunities, and a vibrant nightlife. The city is recognized worldwide for recent downtown revitalization and new urbanism projects. According to Forbes, Montgomery’s major industries are defense and education with a gross metro product of $18 billion. Montgomery's central location in Alabama's Black Belt makes it a processing hub for crops such as cotton, peanuts, and soybeans. The city has a large military presence due to Maxwell Air Force Base. The cost of living in the city according to Forbes was about 8% below the national average.
Alabama is often called the “Heart of Dixie” thanks to the unique southern charm that pulls in millions yearly. Get ready for breathtaking shorelines, low costs and some of the kindest neighbors you’ll ever meet. Between its deep-rooted history, mouth-watering food and passion for college football, you’re going to love being a part of the authentic Alabama experience. Alabama’s GDP is at $205.626 billion. According to the Alabama Department of Labor, average weekly earnings increased over the year by $53.82. Manufacturing weekly earnings increased by $27.18 over the year, and construction weekly earnings were up $55.08 over the year.
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This 10 home single-family residential investment portfolio in Montgomery is primarily located in the Tri-Counties area, or the River Region, within Alabama. Montgomery is the capital and the second most populous city of Alabama. According to Neighborhoodscout.com, single-family detached homes are the single most common housing type in Montgomery Alabama housing market, accounting for 69.62% of the city’s housing units. Montgomery home appreciation rates were 2.44% in June 2018, equating to an annual appreciation of 10.12%, making it one of the highest appreciating communities in the nation in 2018 and is considered a strong cash-flow market due to the strong demand for rental housing. Montgomery is home to eight colleges and universities making it a large student market with many students seeking single-family homes to rent in the surrounding areas. The portfolio is comprised of properties located throughout the city of Montgomery with some homes located just a few miles from colleges including Alabama State University, Trenholm State Community College, Troy University - Montgomery Campus and Huntingdon College, to name a few.
This portfolio offers an investor immediate cash flow in the Montgomery market with 71% occupancy. This portfolio can be packaged for an investor with any of our other portfolios throughout the country. The average year-built of homes in this portfolio is 1975, with an average of 1,235 square feet per home. There is one 2-bed, 1-bath home; one 3-bed, 1-bath home; two 3-bed, 1.5-bath homes; four 3-bed, 2-bath homes; one 4-bed, 2-bath homes; and one 4-bed, 2.5-bath home. These well laid out floor plans range from 1,040 to 1,604 livable square feet, averaging 1,235 square feet. Rental rates throughout the portfolio are on average $752 a month, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors bottom line over the years.
This 10 home SFR investment portfolio is listed at only $59 per square foot, compared to the median list price of $76 per square foot in the Montgomery market. The Montgomery market is also at a median home value of $134,900 per home, which is 86.07% higher than the asking price of this portfolio of $72,500 per home, making this an excellent value for an investor. Montgomery home values have gone up 4.1% over the past year and are predicted to rise by 3.9% within the next year.
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