Deal #2-WooHoo

Deal #2-WooHoo

Homeowner · Troy, MI · Member since 2008 · 22 posts · 5 votes

Just signed a purchase agreement for a 3br/1ba tudor style home. Interior has been totally redone-probably within the last two years including new kitchen, refinishing all hardwood floors, paint, new bathroom, etc. The only bad point is the ceiling in the dining room which has a wet spot. The dining room sits off the back of the house and has a flat roof which serves as a balcony off one of the bedrooms above. There is a split seem between 2 pcs. of plywood that have some sort of rubberized paint as a sealer. Probably needs the ceiling pulled down and replaced and a roof put on that area (8' x 12')

Purchase price $18,500.
Rent Potential $800/mo.

What are your thoughts?

0Reply
13 views

3 Replies

Jump to latestLatest
  • Member since 2009 · 499 posts · 117 votes
    17y

    COOL. Can you rate the neighborhood on a scale of 1 -10. ten being Beverly Hillbillys neighbor??

    Wish i could find some of those type numbers here in the wild wild west(midwest). OUR market is way TOO strong and houses are selling nearly even with top,,,but we didnt rise so much as coasts did either.

  • Westminster, CO · Member since 2009 · 8 posts · 0 votes
    17y

    18.5k for a house.... wish I could find deals like that in Denver. You buy that in Detroit?

  • Homeowner · Troy, MI · Member since 2008 · 22 posts · 5 votes
    17y

    Found it in Pontiac, Michigan.

    Pontiac is not the greatest area in general but this house is in a nice historic area called Indian Village and is withing walking distance (.5 mile) to major mall and bus access. This house sold for $130,000 three years ago.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.