|Price/Rent PSF||$ 6,849,100.00|
|SQ. FT. Available||199,656|
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 a 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 141 Home SFR investment portfolio opportunity located in Montgomery Alabama offers an investor immediate cash flow in the growing Montgomery market. This 141 Home SFR Portfolio can be packaged for an investor with any of our other portfolios in Alabama as well as throughout the country. The average vintage of homes in this portfolio is 1952 but offers spacious square footage of around 1416 sqft per home. There are 4 - 1 bed / 1 bath homes, 27 - 2 bed / 1&2 bath homes, 97 – 3 bed / 1&2 bath homes, 12 - 4 bed / 1 to 3 bath homes and 1 - 6 bed / 3 bath home. These well laid out floor plans range from 430-3652 livable square feet, averaging 1416 SF in total. Rental rates throughout the portfolio are 13% below market rates, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors bottom line over the years. Average market rent in Montgomery is also at $1020 compare to the average rent of $642 in this portfolio, showing the potential for increased profits by increasing rents to market rates.
Single-family detached homes are the single most common housing type in Montgomery, accounting for 69.62% of the city’s housing units. Almost 50% of the population is a renting in Montgomery. NeighborhoodScout’s data show that house appreciation rates in Montgomery were at 1.01%, which equates to an annual appreciation rate of 4.10%. Relative to Alabama, the data shows that Montgomery’s latest annual appreciation rate is higher than 50% of the other cities and towns in Alabama. The median home value in Montgomery is $106,547 which is more than double the average home price of $48,575 in this portfolio, making this a great investment opportunity. The median list price of homes per square foot is $77 sqft which is more than double the lower price of $34/sqft in this portfolio.
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