22928 Placid Dr

Foley, AL 36535
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3 bd, 2 ba | 1,606 sqft | Built in 2005

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List Price
$275,000

Initial Investment

$74,938

Purchase Price

$275,000

Down Payment

25%

Rent

$1,910

Total Return

$145,556

Annualized Return

24.5%

Cap Rate

6.1%

Gross Yield

8.3%

Cash Flow

$858

Appreciation

8.7%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

5,837

HOA

$38/mo

Flood Risk

Not Required

Welcome home to Leisure Lakes! This precious 3 bedroom, 2 bath has been recently updated with NEW HVAC, NEW Water Heater, NEW Flooring (No carpet!), New paint and new deck outside that overlooks the expansive lake! At the front door the open foyer meets you and leads to the large living space. There are two extra bedrooms and a bathroom on the right and the primary bedroom is at the back of the home overlooking that beautiful lake. Spacious kitchen and dining space open through french doors to the back yard. Leisure Lakes offers a clubhouse, fishing pier and outdoor pool. Don't miss out on this great house in this great neighborhood! Buyer to verify all information during due diligence.

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NEIGHBORHOOD

SCHOOLS

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Ben Preston
LAH Real Estate
AL Agent License #840-10

Annual Financial Highlights

Expected Rent

$21,774

Expenses

-$4,326

Property Taxes

-$1,640

Loan Payments

-$14,950

Net Cash Flow

$858

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Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

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From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.
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Listing Courtesy of:Brooke Butler
Mobile Bay Realty
Certified Agent Brokerage:Ben Preston
LAH Real Estate
AL Brokerage License 100333-0
SourceGulf Coast MLS (GCMLS)
MLS #7541440
Last Updated: 03/15/2025 11:03
Disclaimer: The accuracy of this information is deemed reliable but not guaranteed or warrantied. All information should be independently verified before making purchase decisions. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The content relating to real estate for sale on this website appears courtesy of the Multiple Listing Service (MLS) listed as the “Source” on this page. Individual listings appear with the permission of the real estate brokerage identified under the “Listing Agent” on this page.