1633 90th St N, Birmingham, AL 35206

9.9% cap rate today, with documented rent upside. 4BR/2BA, 100% voucher-paid, new roof, management in place. 1633 90th St N is a 4-bedroom, 2-bath, 1,352 sq ft home in Birmingham's East Lake submarket (35206), priced at $125,000 — about $92 per square foot — against $16,392 of in-place annual rent and $12,393 of NOI on actual operating expenses. Attractive cash flow profile $1,366/month, 100% covered by the Housing Choice Voucher program. No tenant portion means no split collection and no partial-payment months. Payment arrives by direct deposit from the Housing Authority of the Birmingham District. Four bedrooms, and the rent is below market. Contract rent sits below the published HUD Fair Market Rent for a 4-bedroom unit in the Birmingham-Hoover metro. The lease renews each November 1; a new owner can pursue a rent adjustment at the anniversary, subject to HABD approval and payment standard. Buyer to verify. Property taxes of $871 for 2025 — roughly 0.7% of value. Tenant in place since November 2024, now in first renewal term. A seasoned, renewing tenancy — turnover cost and lease-up vacancy are behind you. Roof replaced June 2025. The largest capex line on a house this age is done. Executive Property Management already runs it and will stay on at 10% of collected rent. Close on Friday, collect on the first. The numbers (seller-provided; buyer to verify) List price $125,000 Price per sq ft $92 Gross annual rent $16,392 Property taxes (2025) $871 Insurance $1,488 Management @ 10% $1,639 NOI $12,393 Cap rate at list 9.9% Gross rent multiplier 7.6 Add a 5% maintenance reserve and NOI is $11,574 — a 9.3% cap. This is a yield asset and it is priced accordingly. Condition and capex Roof: replaced June 2025. Entire property renovated in summer 2024. Terms DO NOT CONTACT OR DISTRUB TENANT. Sold subject to the existing lease and HAP contract; both assign to buyer at closing. Security deposit and prorated rent credited at closing. Investor financing only — a tenant in place makes this ineligible for FHA/VA owner-occupant loans. DSCR and conventional investor products work. Offers and diligence: goldenbirthdaycapital@gmail.com. Package on request — rent roll, HAP contract, tenant ledger, 2025 tax bill, insurance declarations, roof invoice.