Huntsville mls investment

Huntsville MLS investment property
October 31st, 2011 8:09 AM
In the second section of the listing it shows 8 units, 2 bedrooms each withrents at $325.

Late afternoon on Huntsville's Monte Sano
The income and expense information from the listing below is incomplete. Wewould need to get the rent rolls to confirm expenses and vacancies but thelisting states.
Gross Income: $33,228Vacancy: $0Taxes: $1,211Insurance:Gas & Elec: $0Water & Sewer: $0Waste Remov: $456Maintenance:Management:Other Exp: $480Total Exp:Net Op Income:
Unless you are an experienced landlord, managing low income apartments willbe hard. We manage almost 400 properties and regularly turn down lowerincome multi-family property. Even as professional property managers withresources, experience and a great Tenant Landlord Law attorney. Managing lowincome property is a bad business decision. It uses way too many resourcesfor minimal return.
If you are looking for multi-family my counsel would be to look in a litterhigher price range
This unit has been on the market since 08/18/11 without selling. It lastsold for $192,000 on 06/28/07.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114948678

Huntsville Downtown Huntsville
From selling at $192,000 to being listed at $150,000 for three monthswithout selling might be an indication the neighborhood is in decline.
I review available multifamily homes for investor clients and the only on onthe Huntsville MLS market I could really reccomend them reviewing is.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114948679
I think it’s priced a little high for the market but it is in a stable area.
My preference is single family property. Its more liquid, has betterappreciation and is much easier to manage. The cash flow is not as good asmulti-family but it’s a much safer investment.

Huntsville skyline

Huntsville MLS investment property October 31, 2011
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