2682 Fernwood Drive, Montgomery, AL 36116

4/2 1,500 Square Feet, Built in 1980!

Built in 1980 this 4/2 home has 1,500 square feet according to the tax records, and is located close to shopping and major roads that give you access to all that Montgomery has to offer.  This house is deceptively big.  Walk into a cozy living room that has outstanding luxury vinyl plank, there is a formal dining room to the right and a kitchen with tiled floors.  The master bedroom is conveniently located on the main floor, and features a spacious master bath.  A second bedroom that is almost as big is across the hall, and upstairs features two more bedrooms and a bath conveniently located between them.  The yard is huge, but the renovation on this home is beyond what you would expect for a home in this price range.  This house has a new roof, new luxury vinyl plank flooring, new interior and exterior paint, new brushed nickel door knobs, hinges, and new lighting throughout.  The home has a new condensing unit, furnace and hot water heater, so there isn’t a need to worry about the major systems.  The kitchen has new granite and the cabinets have been updated with fresh paint and new hardware.  The bathrooms have been updated with brand new tile surrounds, new trim kits, valves and stems, faucets, towel racks and more.

Confirm rents with the property manager of your choice, but we are told this property may rent out from $850-$950 range depending upon the time of year you are leasing.  This home should be an excellent turn key rental that we hope will provide outstanding returns!  It’s getting really hard to get nicely renovated turn key properties below $100,000.  There are comps in a few surrounding neighborhoods that will help support a $95,000 purchase on this property, but there are no comps renovated to this level in the immediate neighborhood, and most of them are 3/2 homes.  We give you this disclosure because there is a possibility that the appraisal could be tight on this one.  Our total all in cost is about $90,000 after doing such an extensive renovation to provide what we feel is an outstanding opportunity, so there is an outside chance that the buyer may need to bring a few thousand dollars to closing in the case that the appraisal is low.  This may not happen, and we will cross that bridge when we get there.

Property Details

Price: $95,000
Address: 2682 Fernwood Drive
City: Montgomery
State: AL
ZIP: 36116
MLS #:
Square Feet: 1,500
Bedrooms: 4
Bathrooms: 2
Basement:

Additional Features:

 



 

 

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