Act fast on this one. My last 3 deals have closed in 14, 17, and 30 days. This one will not stick around for long.
This 3/2 is in an amazing location.
Their next door neighbor is 350 square feet smaller and recently sold for $235,000 with an out of date kitchen and baths, bright red walls, and more that needs updating.
As a flip, this would need new kitchens and baths, new flooring in the kitchen and sun room since it is currently linoleum, exterior trim painting, and a couple other small repairs/painting.
As a rental, it needs two cracked windows replaced, a couple drywall patches, and that’s about it.
It is in floodzone AE, but did not flood in 2016. The previous owner pays less than $600/YEAR in flood insurance.
ARV – $318,320 @$173/sf
Purchase – $207,000
Rehab ~ $35,000
Closing ~ $15,916
Realtor – $19,080
Holding Costs ~ Variable based on funding
Profit ~ $41,324 minus holding costs