I'm currently under contract and there are several things I don't like about the place, but only grab it because inventory is hard to come by. This is a pocket listing I got from a realtor I work with.
1 Story Traditional Equity Sale.
Purchase Price $96k Cash
ARV $110k - $120k
Rental income $1000- $1100, (2% is hard to come by in Las Vegas.)
Walking distance from pretty good high school.
Things I don't really like about it.
- Small Kitchen
- Dining Room Table would be place in the kitchen corner which is only about 5ft x 10ft.
- Only standing shower in master bath, no tub.
- One sink in master bath.
- Normal sliding closet door in Master Bedroom.
- Electric Appliance, only water heater is gas.
- Garage is attach to the house, but you have to walk out the side door and get in the house via front door.
I could flip or rent, if I rent, I would get 9.5% Cash on Cash return, not including vacancies & repairs.
Monthly cashflow on rental would be between $855 - $955.
What do you think about this deal?