What Repairs/Estimated Cost is Needed on this Property? Photo's Included!

1 Reply

Hello all, I already posted a detail analysis using the rental calculator. The link is:


Today I went to go view the property, here are the photos I took. Can you please tell me what repairs are needed and how much they would cost around? Some other information is this property does have Central Air system. Also in the basement picture where the sheetrock looks to be cut out all around there was a leak we found out, but it was due to a pipe being frozen and that problem was fixed and a new pipe was installed. There was no water damage from the outside elements.

This is a short sale home, asking 229,000. I did my analysis on a purchase price of 220,00. My realtor is saying they probably wont accept anything under 225,000. I honestly would like to offer between 210,000-215,000 just for the hell of it. This is a 2-Family House. 1 is a Main unit that has 3 Bed and 1 Full bath, 1/2 bath. 2nd Unit is just a small Studio Apartment. Thoughts/Opinions are welcomed. Here are the photos!

Photos of Studio Apartment:

  • This is everything in the Studio apartment. The last picture is right when you walk in the entrance to apartment. It is a picture of the ceiling. Not sure whats going on there. The picture before it with the large hole in wall is inside the bathroom, also not sure whats up with that. Everything else is pretty much easy to identify. Thoughts/Advice?

    Main Unit: Has a Unfinished Basement that holds Heating Systems/Boiler, etc. This is where that frozen pipe was located and they had to cut sheetrock. I will show you you. Also there are two other floors in this unit. Main Floor then 2nd floor with bedrooms/bath.

    You should take a look at J. Scott's Rehab calculator in the FlePlace: J Scott Rehab Analysis

    It's pretty thorough. I see the sheetrock cut from that busted pipe you were talking about. You may want en expert to check for mold. 

    Jon Huber, Real Estate Agent in New Jersey (#NRS0565737)

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