Active real-estate-and-business ready-to-open

Estate on 24.9 Wooded Acres

Price
$780,000.00
Listing Tags
value-add
Beds
35
Size
8100 sqft
Type
Single Family
Estate on 24.9 Wooded Acres

Overview

A vacant 8,100-square-foot home on 24.9 wooded acres in Franklin County, northwest Alabama, offered as real estate together with a sober living business concept. Seven bedrooms and five and a half baths, reached by a winding paved drive from the main road, with two detached garages, two metal outbuildings, RV storage and a storm shelter on the land. The roof, windows, HVAC and water heater have all been replaced since 2020, and the floor plan supports up to 35 beds.

Lease and Income Structure

This property is offered as real estate together with a sober living business concept. It is vacant today, so a buyer is opening a program rather than taking one over.

The Setting

The house sits on 24.9 wooded acres, up a winding paved drive from the main road. That matters more for recovery housing than it would for a private residence: no shared lot lines, no immediate neighbors, and enough distance from the road to give residents privacy without stranding them somewhere remote. Russellville, the Franklin County seat, is a short drive away.

The House

Custom built in 1991 in a creole style, the house runs across two stories with balconies and several covered decks. There are seven bedrooms and five and a half baths, dual walk-in closets off the master, and several bedrooms large enough to carry multiple beds. Beyond them sit a sunroom, a game room, a bonus room, and several oversized rooms with vaulted ceilings that convert naturally into common space or additional sleeping rooms.

Outside there are two detached garages, two metal outbuildings, barns and sheds, RV storage and a storm shelter. That gives a program storage, shop space, or somewhere to put vocational programming without building anything new.

Condition

The expensive systems are already done: new roof in 2021, new windows and doors, two HVAC units, a tankless water heater, and a new asphalt drive in 2020. Lighting, flooring, paint, the kitchen and the bathrooms have all been redone, and the kitchen carries granite counters and stainless appliances. What is left is cosmetic and operational. See Scope of Work below.

Who This Fits

An operator or investor who wants land and scale rather than a house on a village lot, and who is willing to open a program rather than buy one already running. Diligence should cover Alabama recovery-residence certification, county zoning and fair housing, water and septic capacity against the intended bed count, life safety systems, and the condition of the outbuildings.

Property Financials
Bed Data
Shared Beds 35
Total Beds 35
Vacancy Rate (estimated) 20%
House Mentors 3.0
Revenue-Producing Beds 25.00
Weekly Rent $160.00
Intake Fee $200.00
Revenue (Annual)
Total Potential Rent Income $291,200.00
Less: Vacancy & Loss $58,240.00
Less: Mentor Rent Credit $24,960.00
Plus: Intake Fee Revenue $11,200.00
Plus: Laundry Service Revenue $5,824.00
Total Revenue $225,024.00
Expenses (Annual)
Operating Expenses $44,975.00
Property Taxes $4,290.00
Property Insurance $2,600.00
Operator Compensation $24,000.00
Total Expenses $75,865.00
Net Income
Net Operating Income $149,159.00
Valuation
Capitalization Rate 8.50%
Value on Cap Rate $1,754,812.00

Work Needed

The major systems have been replaced already: roof (2021), windows throughout, two HVAC units, a tankless water heater, and the asphalt driveway (2020). The kitchen has newer cabinetry and countertops. What remains is furnishing, life safety work, and the cosmetic and code items that come with turning a single-family house into multi-occupant residential use. The current budget is roughly $10,000 over about three months.