Price: $39,000
Rehab: $10,000
ARV: $70,000
1,233 sqft
1970 Build
3/1
Small investment with an easy rehab! Not a ton of sold comps but it's a cheap property with a small rehab project. As a rental an investor can expect about $850/month! Do the math on that and you'll see that an investor has the potential to cash flow about $450/month! If an investor keeps his cash in the property, he should be able to make his investment back in less than 5 years!!! There's a decent spread for this small of an investment as well.
As for the property itself, it's got a nice looking 30 year roof with roof vents, and the exterior is in good shape minus one side that has some graffiti on it but that's an easy fix and is factored into the budget.
I originally was running my numbers at a $75k ARV but knocked it down to $70k to be conservative. I also came up with $8k in rehab but bumped it up to $10k for our packet!
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