50% of ARV! Needs 7-10k in work! Investor special Memphis!

[Sam Wilson]

Just picked this up last week. Easy little house with some minor repairs needed. You could be all in for less than 30K in this one. Should rent for $600 month.

This house is a cute little home with loads of potential. Only $19,900! It has a nice brick exterior and a fenced in backyard. It is a 3 bed, 1 bath home with hardwood floors.

List of repairs needed:
1) Paint
2) minor ceiling repair and minor mold damage around the vents. This home has been shut up for 2 years unoccupied. The mold may be surface mold, it may need more than that. It is not by any stretch prevalent throughout the home. Roof is in fair condition with no evidence of any leaks either, so there's not a concern on my part it is significant mold damage.
3) Kitchen flooring and cabinets
4) Basic landscaping
5) HVAC system updated ( maybe. The previous owner said she hasn't lived there in 2 years but it worked when she left. I'm going to say it needs some help as it has been vacant)

All in about 7-10k in repairs.

This house could be a nice rental at 29k all in! Or could be a nice first home for someone!

Comps:

-2729 Merle St Memphis 38118 sold in December 2016 for 39k. It is a 2 bed 1 bath.
-3549 Fuller Rd Memphis TN 38118 sold in Nov 2016 for 52k. It is a 3 bed 1 bath


This is a cash only sale. Home is available immediately.