Home Buying in Birmingham>Question Details

Westridge88, Home Buyer in Birmingham, AL

Decent Rental Property Areas in Birmingham

Asked by Westridge88, Birmingham, AL Tue Nov 3, 2009

I am looking for a few rental properties in Birmingham...looking for properties 0-75k with rents that will cashflow. I realize these will be lower class neighborhoods but I am looking for zips that would be decent and possibly a few zips to stay away from. Have been browsing in 35215, 35218, 35211, 35208, 35206 etc...any comments would be appreciated.

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Just saw your post. We have a 3bedrooms, 1 bath totally renovated property for $69,900 (appraised $80K0. - not a lower class neighborhood but quiet neighborhood. Kitchen completed renovated, new cabinets, dishwasher, stove, sink, microwave. Hardwoods completely refinished. Full basement. Completed painted inside & out. Fenced level yard. 108 Caol Drive B'ham $750 - $800 rent - not section 8. May call me. Wally Thrasher 205-563-4933 Owner
0 votes Thank Flag Link Thu Sep 9, 2010
looking to sell 3 bedroom house @ 300 72nd Street North, Bmg, Ala 35206 (East Lake area), rental offer for $750 (not section 8 prospective tenant), car port, 1 bath, separate dining room, laundry room, cement porch, yard, just rennovated with finishing touches, not listed on market yet, but saw your posting, asking price $69k, if interested, please call me at 917-566-6311 or 212-227-8242 or adetiere@cs.com, my name is Ann Detiere-Russiello
0 votes Thank Flag Link Thu Sep 9, 2010
I work for the residential arm of Equity Found Realty, a full service investment building and management company that has many properties in and around Birmingham from multi unit duplexes to renovated condos.
Web Reference: http://www.equityfound.com
0 votes Thank Flag Link Wed Jan 20, 2010
Have you considered condos? I know of a few in the 35205 zip code that could work for you. For instance, this one was listed at $78K. We leased it in less than 24 hours for $750/mo.
0 votes Thank Flag Link Mon Jan 18, 2010
There are more apartments for sale now than ever before (or boarded up). Sometimes the cheapest price is not the best deal. Check with the police department about the crime rates in those areas before investing. But now is a great time to buy investment property.
0 votes Thank Flag Link Wed Nov 4, 2009
I have an apartment complex that has 3 units that are rented and have been for 6 months with no lates. It does qualify for section 8 but none of the renters are on section 8. Priced at 59900 but would look at an offer. My seller also have several other properties that he is willing to sell as a package deal. Give me a call so we can discuss this if you are interested.

Christi Cornwell
382-0629
0 votes Thank Flag Link Tue Nov 3, 2009
There will be many factors to determine which areas will be the best investment for you. I am a realtor and an investor with rental properties in some of the areas you have listed. Contact me if you would like to discuss your objectives and strategies for investing in these types of homes.
Web Reference: http://www.chad-edwards.com
0 votes Thank Flag Link Tue Nov 3, 2009
Every area has a lot of rental properties and it depends on what your risk/reward that you are looking for. 35215 is Center Point and the area has a lot of bigger homes being sold at great value and I think is a great area to invest in. You can find properties from 30k-75k in this area. The price range on those would be buying a foreclosure and putting some money into it and then getting a renter. The 35208 and 35218 zip code is Ensley and you can purchase homes from 7k-40k in this area. The 35206 zip is Eastlake and you can find properties from 10k to 40k. The 35211 area is West End and College Park area. You can find properties from 5k to 35k.

All of the price ranges are for homes that you would need to put some money into them to get them rental ready.

There are some turn hey homes out there that are more expensive and you will pay a premium for them. If a renter is already in the home and the home is "liveable" you would be looking at rentals turn key at 30k plus and mainly in the mid40s-mid 60s that will cash flow.

Hope that helps. Good Luck!
0 votes Thank Flag Link Tue Nov 3, 2009
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