Dallas, TX · Member since 2019 · 24 posts · 7 votes
Hello everyone,
Under contract on a 1940s home in Oklahoma City that I plan to use as a long-term rental.
The inspection will be completed on Thursday, but wondering what reservations come to mind for the general public of REI's. (I can confirm the roof was replaced 2 years ago)!
For example, some close friends lived in a 1940s home as their primary residence and had a terrible time with cast iron pipes, and because of it are firm that if this house has cast iron, they’d walk. Any feedback on this topic as well would be helpful.
@Eric Carlstrom Cast iron is fine until it isn't lol. I have a 1947 that is fine and then I have a 1912 that needs completely replaced. I bought it in 2013 and it was fine fast-forward to last week and I've got a pipe from the laundry room that is rusted in two pieces and dumping under the house. I've owned the 1947 since 2008 and those pipes look like they were put in yesterday. The difference in the two is the amount of moisture in the crawl space. The soil is always slightly damp under the 1912 house due to the water table being inches below the ground surface. I know that was a lot but my point to the story is the 1947 pipes will probably outlast me because of the environment they are in. Your home inspector should be able to give you a good idea of the environment under the house along with a visual of the pipes. If they have the original paint on them I wouldn't worry near as much. If they look like they are rusty and you would need a tetanus shot if you touched them then I would worry a little more.
Other than that everything Lara said is spot on. I personally worry about the area around windows and Fascia/soffit areas for wood rot also.
1) Foundation issues- extremely common here in Oklahoma. You can get your realtor to get an inspection for free. Here in Oklahoma… it’s not If but when.
2) asbestos— while the home inspector can’t tell you 100% just by looking at it, they *should* be able to tell you if they suspect it (Like the square tiles used in kitchens and bathrooms especially), and from there you can decide if you want to get it tested. Will need remediation if found.
3) lead paint— the seller will probably say “I’m not aware of any lead based paint” in the disclosures. And your inspector again can probably give you a good indicator if they suspect, but it’ll also need to be tested for to be certain bc you can’t tell just by looking at it. Will need remediation if found.
4) how old is the electrical wiring? Could effect your home insurance.
5) how old are the AC and water heater units?
6) are there a lot of trees close to the house, you might want a sewer scope.
@Eric Carlstrom I think it will all depend on the initial inspection of the condition honestly. With every house we ever buy, there's always a chance of something unforeseen going wrong, right? If they look like they will need immediate replacement, how much will that cost you? Is that cost something your numbers will make work? You may be able renegotiate with the seller after the inspection too. (I don't know about the terms of your contract.) Would your numbers work if that happened?
@Eric Carlstrom Cast iron is fine until it isn't lol. I have a 1947 that is fine and then I have a 1912 that needs completely replaced. I bought it in 2013 and it was fine fast-forward to last week and I've got a pipe from the laundry room that is rusted in two pieces and dumping under the house. I've owned the 1947 since 2008 and those pipes look like they were put in yesterday. The difference in the two is the amount of moisture in the crawl space. The soil is always slightly damp under the 1912 house due to the water table being inches below the ground surface. I know that was a lot but my point to the story is the 1947 pipes will probably outlast me because of the environment they are in. Your home inspector should be able to give you a good idea of the environment under the house along with a visual of the pipes. If they have the original paint on them I wouldn't worry near as much. If they look like they are rusty and you would need a tetanus shot if you touched them then I would worry a little more.
Other than that everything Lara said is spot on. I personally worry about the area around windows and Fascia/soffit areas for wood rot also.
Cas t Iron pipes have a life expectancy of 50 -60 years. SO virtually every house that still has it is going to be having it fail SOON. So either be prepared to do it yourself, or get a credit from the seller. Always camera the sewer lines anyway. But even if they don't notice any breaks in the cast iron, it is still considered a failed product by most good inspectors. Replacement cost depends on the length of run to the city main, but they usually ran $7,000 - $10,000. Not a big deal as long as you are aware of it, I wouldn't let it stop me from buying the right house.....
@Lara White totally understand. Thank you. The numbers, and my profitability (and thus my interest in the property) will depend entirely on the current state and estimated repairs.
I am certainly investing in properties for the long haul, not flipping, but if the repair is $5k instead of $1.5k, I’ll need to thing long and hard about it.
@Nathan Hughes this is great. Sorry about the second house and the forthcoming repairs, but thanks for the insight. Super helpful and good perspective. I’ll make sure to have the inspector spend time focused on the metro of moisture underneath the crawl space.
You've already got great recommendations in this thread but I will add in a little info on one we just bought. We had a similar 1940s house with original cast iron and galvanized steel. It was still "functional" but not in great shape. The nice thing about these older houses on crawl spaces is that it's fairly easy to change out plumbing. We spent under $3500 to replace all of the cast iron and steel with pex and PVC. This included the main water supply line to the house (the sewer main had already been replaced). I always budget an extra $5k for "unknowns" when I get something under contract. I don't always spend that much, but it definitely helps your mindset when you go in with an "uh-oh" budget. It NEVER fails that something is going to come up after you close and get a contractor in there.
Super helpful, thanks so much. If you had a great experience with a contractor on this project, I may ask for a referral! Good luck on the new property!
@Eric Carlstrom, Thank you! It's leased out and going well! You don't want my contractor's info. ;) That contractor was a disaster and I ended up having to cut him from the job and coordinate project myself because wasn't getting things done.