A great big house (#7)

A great big house (#7)

DSC_0682 (Medium)

Features

  • Single Family
  • 1600+ Square feet
  • 4 bedrooms 1.5 bathrooms
  • Full basement
  • Multiple sheds
  • Foreclosure listed on MLS

Financials

  • $35,000 purchase price
  • $5,700 rehab cost
  • $480 monthly NOI
  • 14.13% ROI
  • $75,000ARV (~$34,250 in net equity after rehab)

Investment diary

This rehab was quick, easy and the tenant applications flooded in when we put this on the market due to a severe lack of 4 bedroom properties. Most of the work put in the home was cosmetic only in nature as the house had had the mechanicals updated at one point in the past. These kinds of properties are absolutely fantastic values and attract high quality tenants.

The goal with this one will be to sell the home in 2-3 years to the tenant who currently lives in it for a relatively straightforward $34,000+ profit.

Property photos