Indpls, 2, 3 or 4 Bedrm Crazy Cheap Rental, just add Elbow Grease
Suited for Rental or Rent to Own with 2 bedrooms that could be 3 or 4 bedrooms 1 bath built in 1905 with 1,152 sq. ft. Good potential Equity after rehab.
Repairs Approx. $24,700
Typical vandalized property.Most of the aluminum siding is gone, needs window repairs, some electrical and plumbing needed hard to tell as no access to crawl space.Some subfloor repairs due to what appears to be squatter’s bonfire inside.Replace or repair roof.Kitchen & bath rehabs along with paint and flooring.
Additional Description
*2015 Net Assessed Tax Value shows $22,300, via Property Tax Card.
Today's market conditions ARV's often difficult to interpret and are highly subjective.Using Real List from the BLC/SDF comparables it is noted that there is a High of $59,700, low of $1,900 with average of $16,503 Depending on your rehab finish, we would place an ARV $45,000 to $49,000 value on it that would be a mark that splits between the Average and High Pricing of Solds on the BLC/SDF.This would not be a good project for Flip Rehab due to the Retail price point and the availability of FHA or conventional Lending, and make this more of a Rent-Own or Rental.
*This is a Wholesale Deal that uses an Assignment of Contract Rights to End-Buyer.Contract Holder is a Licensed Broker in the State of Indiana, acting as a Principle in the transaction. Make sure you do your own Due diligence before you make any offer.
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