Elrie Blvd
Bessemer, AL 35020

1150 sq. ft., 3 bedroom / 2.0 bathroom

Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020
Elrie Blvd</br> Bessemer, AL 35020

Property Information

Current StatusOccupied
Lease Start Date01/01/1970
Lease End Date01/01/1970
UtilitiesPaid by Tenant
Initial Investment*$44,136

*Includes down payment plus $3,000 of closing costs

Purchase Price $159,750

Current Rent$1195
Cap Rate8%
Cash on Cash Return*29%
Net Cash Flow Per Month*$320

*Assuming 25% down with a loan at 1PTS + 5.5% interest for 30 years. Including equity build up and 3% appreciation per year.

About This Property

Located in the heart of Bessemer, this property at Elrie Blvd offers a solid opportunity for homeowners or investors looking to secure value in the growing Bessemer 35020 area.

Situated in a convenient residential neighborhood, the property enjoys easy access to major roadways, shopping, dining, and local amenities. Bessemer is known for its affordability, steady rental demand, and proximity to Birmingham, making it an attractive market for long-term investment.

Renovations include:
Roof
• Repair Minor Roof Problems
HVAC
• Inspect and Service Existing HVAC System and Install Security Cage
General
• Landscaping: Cut grass, eliminate overgrown shrubs and vegetation,
• Install new mailbox and house numbers
• Trash out existing debris
• Removed storm doors, screens, boxes, wires, etc.
• Install Vapor Barrier to Crawlspace
• Repair/replace soffit, siding, trim as needed
• Paint Entirety of Home
• Repaired drywall
• Painted interior of the house including trim on windows
• Replaced damaged or missing doors, painted all doors and installed new knobs and hinges
• Installed LVT in all areas except kitchen and bathrooms. Repaired and replaced subflooring where
needed.
• Installed new blinds on all windows.
• Replaced broken windowpanes
• Add blown insulation in attic
• Ensured properly functioning washer/dryer connects
Kitchen
• Removed all appliances.
• Replaced vent hood and dishwasher with new units
• Install new cabinets Installed new hardware on cabinets
• New Ceramic tile flooring
• Installed new granite countertops and new under-mount sink
Bathroom 1 and 2
• New Ceiling & Vanity Light
• New vanity, vanity countertop, and sink
• Installed new mirror
• New tile flooring
• New paint
• New tub fixtures and shower head
• New Toilet
• Refinished shower/Tub
Electrical
• Ensure no aluminum/knob and tub wire
• Replaced light fixtures throughout the interior.
• Installed new smoke detectors
• Ensure electrical panel is sized correctly to the size of the home
• Ensure all Switches, covers, and receptacles are operational. Repair/Replace as needed
Plumbing
• Replace any galvanized, cast iron, and steel plumbing inside the home
• Install new water heater

Financing Options

MartelTurnkey has partnered with some of the top lenders that provide a wide range of financial solutions to meet your Rental investing needs. Talk to an Advisor to learn more or visit our partner to get pre-approved.

Property Management Company

Your turnkey property already has a local property management company in place. During the purchasing process, you will be introduced to them.

Investment Terms

Purchase and Sale Agreement (PSA): A PSA will be delivered electronically once an agreement has been made and must be executed by Buyer within 24 hours of receipt.
Earnest Money Deposit (EMD) of $1,000 must be wired to the Title Company within 3 days of PSA signing.
Appraisal Contingency is available for financed properties, and will be waived automatically if the property appraises for the sale price. If it does not appraise for the sale price, then the Buyer and Seller will have the opportunity to come to terms or the Buyer can cancel the contract.
Closing Date: The Closing Date will occur within 15 days of PSA execution for cash transactions and 45 days of PSA execution for financing unless otherwise agreed by Buyer and Seller.
Lease Agreement: The current lease agreement will be provided to Buyer at Closing.
Closing Costs: Closing costs shall be paid based on local custom, and will include discounts negotiated by Martel TurnKey to lower transaction costs for Buyers and Sellers. Actual closing costs will be outlined on the final settlement statement.

Buying Process

Click here to learn more about buying rental properties from MartelTurnkey. If you have any further questions, schedule a call with an advisor