3518 Inglewood Drive, Huntsville, AL 35810

This huge 4/3 home has a bonus room, rocking chair front porch, huge detatched two car garage and a fantastic yard. The owners suite is amazing and has it’s own office attached to the suite. The huge formal living room has gleaming wood floors, the den is gigantic and has built in book shelves, the eat in kitchen is huge with amazing cabinets. This home has a lease option tenant that is former military and is working to get a VA loan in place to purchase this home, they are signing a 12 month lease at $1,350 per month and at the end of the year they want to buy the property for $132,000 providing an investor with a $12,000 profit in 12 months at which time they can 1031 exchange.  The cash flow in the mean time is excellent.  The home is right behind the elementary school which is a real positive. The home also has a two car garage that is detached.  The one negative is that the home has a drainage ditch way behind the home maybe 100 yards, and under the new FEMA maps the home is placed in a flood zone that requires insurance that can cost $150 per month.  I wouldn’t worry about flooding because the ditch is at least 10 feet below the back fence probably 100 yards behind the home and the home has been there for over 40 years without problem as far as we know.    With this cash flow the flood insurance really doesn’t impact your return very much anyway!

Property Details

Price: $120,000
Address: 3518 Inglewood Drive
City: Huntsville
State: AL
ZIP: 35810
MLS #:
Square Feet: 2,782
Bedrooms: 4
Bathrooms: 3
Basement:

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