5.0% Cap Rate Rental Property Investment in Hueytown, AL

Listing Description

Listing: Awning - Redfin - Zillow

Welcome to 1230 26th Avenue N, Hueytown, AL 35023! This stunning 3 bed, 2 bath home is move-in ready and waiting for its new tenants. Located in a desirable neighborhood with an overall niche grade of B, this home has been reviewed by the Awning team to ensure the best estimates are in place. With a lot size of 10,454 sq. ft. and a built-in year of 1966, this property boasts 1,587 sq. ft. of spacious living areas that are perfect for entertaining family and friends. 

You'll love the dedicated laundry room, and the bonus room at the back of the house could be an office, studio, flex bedroom space, etc. EVERYTHING is taken care of including new electrical, plumbing, HVAC, tankless water heater, and roof. And of course, you'll notice the 100% newly renovated kitchen and bathrooms with beautiful quartz slab countertops and backsplash, as well as brand new flooring and paint. This home is in flood zone X, so flood insurance is not required.

Investment Financials

How much does the home cost?

$190,000  

‍How much will it earn in rent?

$1,375 per month

How much will it cost to renovate?

According to the listing, the home is move-in ready and requires no renovations. The estimate is $1,500 for small touch-ups if needed.

How much cash can you take home in the first year?

According to the provided data, the estimated monthly rent for the property is $1,375. After deducting expenses like property tax, insurance, repairs/maintenance, property management, and mortgage payments, the estimated monthly cash flow is -$63. Therefore, the estimated cash you can take home in the first year is -$753.

What is the cap rate for this property?

The estimated cap rate for this property is 5.0%.

All of the cap rates and returns for this property are estimates and are not intended as a guarantee of income or returns. Every investment has risks. It's important to discuss any investment, returns, regulations, laws and projections with a financial advisor, attorney or another fiduciary.

Why People Rent In Hueytown, Alabama

‍

Where is Hueytown, Alabama?

Hueytown is a city located in Jefferson County in the state of Alabama, United States. It is located in the central part of the state, approximately 12 miles west of Birmingham.

What companies are the major employers in and around Hueytown, Alabama?

• Mercedes-Benz U.S. International: Located in nearby Vance, Alabama, this automobile manufacturing plant employs over 4,000 workers and produces multiple models of luxury vehicles.
• University of Alabama at Birmingham: Located in Birmingham, Alabama, which is about 15 miles northeast of Hueytown, UAB is a major public research university and one of the largest employers in the state, with over 23,000 faculty, staff, and students.
• Children's of Alabama: Also located in Birmingham, Children's of Alabama is a pediatric medical center that employs over 5,000 people and is consistently ranked among the best children's hospitals in the United States.
• St. Vincent's Health System: With multiple locations in and around Birmingham, St. Vincent's is a Catholic healthcare system that employs over 5,000 people in the region.
• AT&T: The telecommunications giant has a large regional office in Hoover, Alabama, which is about 15 miles southeast of Hueytown, and employs over 1,000 people in the area.
• Regions Financial Corporation: This regional banking and financial services company is headquartered in Birmingham and has multiple branches and offices throughout the state, including in Hueytown.
• BBVA Compass: Another major banking and financial services company based in Birmingham, BBVA Compass has over 650 branches across the United States, including several in the Birmingham metropolitan area.
• Coca-Cola Bottling Company United: This beverage company has a manufacturing facility in nearby Birmingham and employs over 1,000 people in the area.

What are the demographics of Hueytown, Alabama?

According to Census data, the population of Hueytown, AL is 16,694, and the area is 19.7 square miles. The population density is 848 people per square mile. The data is from the ACS 2021 5-year unless noted.

Another source provides information on the population of Hueytown, AL by age and gender. The median age of the population is 38.8 years old, and the male population is slightly higher than the female population, with 49.5% male and 50.5% female.

According to data from 2020, the population of Hueytown, AL declined from 15,540 to 15,446, a decrease of 0.605%. The median age of the population is 35.9 years old, and the median household income is $51,350. The data also shows that the median household income has decreased by 0.328% between 2019 and 2020.

What is the Niche neighborhood grade and school grade in Hueytown, Alabama?

There is no clear answer regarding the Niche neighborhood grade and school grade in Hueytown, Alabama.

‍What is the property tax rate in Hueytown, Alabama?

The property tax rate in Hueytown, Alabama cannot be determined. 

How many rental listings and vacancies are in Hueytown, Alabama?

There are currently 21 active rental listings in Hueytown, Alabama, with a median rental price of $1,185 to $1,400 per month. 

What's the average rent in Hueytown, Alabama?

The average rent in Hueytown, Alabama varies slightly depending on the source. As of May 2023, the average rent for an apartment in Hueytown, Alabama is $617/month.

However, Zillow indicates that the median rent in Hueytown, AL is $1,050, with houses in Hueytown renting between $600 and $1,745, and a median rent of $1,050. On the other hand, Rentcafe reports that the average apartment rent in Hueytown is $844, with a breakdown of rent prices by neighborhood.

From Listing to Rental

1. Place an offer on this property: If you want help finding the best representation, simply submit your information by pressing "I'm Interested in this Property"
2. Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
3. Hire a property manager to manage your property: If you choose to use Property Management we can help you select the best service and get you a deal on management in the area.