ARV= $233,100 @ $84/SF
70% of ARV = $163,170
Rehab = $77,938.65
Electric is on, water is on.
This property has a ton of potential. It is the typical story, a guy got a great deal on a foreclosure and wanted to do the work himself. He spruced up the exterior a little bit, got through the demo and part of the drywall work and realized he was in over his head. Life circumstances changed, and he needed to offload the property. The property is large, and they closed in the garage for extra living area. There is a beautiful natural stone fireplace that steals the show in the den. The master is massive, and located upstairs with a spacious en suite bath and his and hers walk in closets.
Downstairs, you have to use your imagination a little, but there are good sized bedrooms and one of the baths is large. The kitchen is not huge, but it is definitely sufficient and won’t kill your rehab budget. The lot is 225 x 100, and the area is safe.
As an added bonus, I am a cabinet distributor for Choice Cabinets https://www.choicecabinet.com/ and will get you quality (no staples, glue, or particle board) RTA cabinets at cost if you are interested in that.
Other details: Public sewer and water according to 2016 listing. Flood zone AE at 75ft elevation, it is literally on the edge of the flood zone, and the picture of the flood zone map is attached.
Room dimensions: (Disclaimer, these are from a 2016 listing, I did not confirm measurements)
|Living Room (1St Level)||13.9×12.7|
|Kitchen (1St Level)||16.5×6.2|
|Master Bedroom (2Nd Level)||27×16.5X9.4X>|
|Bedroom (1St Level)||10.5×11.2|
|Bedroom (1St Level)||12.2×11|
|Bedroom (1St Level)||10.9×11|
|Den (1St Level)||44.5x11X27|
Pending: 1320 Hall Dr. Baker, LA 70714 – 4 bed 3 bath – 2,532 sf. Hardwood flooring and tile. Granite countertops. Renovated in 2016. Listed for 225,000 ($89/sf) on 11/20. Reduced to $215,000 ($85/sf) on 2/1. Under contract on 2/9. (Flood Zone AE)