Off-Market Flip or Cash Flow Opportunity!! Rentals in this area are going for 2,500/mo and will produce a 6% Cap Rate! There is also plenty of room for our Fix/Flip Investors.
The house needs a solid rehab however; the property has great curb appeal and a good size lot with room for a possible ADU.
Delivered Vacant.
Act fast, our last SB deal sold within hours!
Property Characteristics:
SFR
3 Bed, 1 Bath
1,444 SF
1957 Build
Lot Size 6,750
Selling Points:
Off-Market
Easy 6%+ Cap Rate @ $2,500/mo
Delivered Vacant
Comps:
Multiple comps @ $425k+, all but one are smaller
Rehab/Strategy:
Fix & Flip: Needs a Solid Rehab Inside and Out
Fix & Hold: $285k plus Rehab & Closing Costs = $350k
Gross Rent $2,500 > Net Income $1,875/mo = $22,500 (NOI)
Cap Rate: $22,500 / $350,000 = $6.
42%
David 424-256-021SIXXXXXXxx
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