What do you think of this deal?

[Lee Williams]

I'm curious what the house hacking community in Atlanta thinks of a 3 BR, 1.5 BA 1213 house on a full unfinished basement with a one car carport in Mableton at $260,000.  Comps at $285k to $325k.  At a minimum it needs paint and flooring (refinish hardwoods and replace tile and vinyl) and basic kitchen/bath reno.  A full reno could entail new HVAC, new windows, opening up LR to Kitchen, creating a larger master with full bath and adding living space in the basement.  I've got it listed (find it under Find Deals) and have positioned it as a house hacking opportunity.  Traffic's been light so far.  

Interested in thoughts on the price and positioning.

[Andrew Garcia]

Hi @Lee Williams, if the sellers are not particularly motivated to sell now, you could look into a fix and list program.

Even just doing the bare minimum should get you some more traffic.

Hope this helps! Let me know if I can be of any assistance.

[Brenden Mitchum]

Hey @Lee Williams, welcome to the BP community!

Honestly, I wouldn't touch it or recommend any of my clients do so for one big reason: It's in Cobb County. They have real strict occupancy laws there (no more than 2 unrelated adults). Now, I know plenty who have gotten away with ignoring that law but when a county is restricting number of cars in a driveway (yep, they do), that's not a place I want to be house hacking. 

I'm not sure about the numbers though - not really enough info here to determine if it's a good deal. Are the comps based on current layout or include a finished basement addition? Keep in mind, a full reno plus finishing the basement could be $70k+ so you'll really only land a house hack buyer if the purchase + reno is near ARV. And, with shaky times come shaky 6-month estimated values so many house hackers would likely still avoid, except maybe those who are quite handy and in no rush to refinance.

Unfortunately, this is a tough one on multiple fronts, but location is the deal killer for me.

Hope this helps a bit though and please, feel free to reach out anytime if you have other questions or just want to chat!