Arlington Rental with Healthy Rents

[Account Closed]

-- Not for those who shy away from foundation issues! --

This is as 3/1 1350 sqft house in a neighborhood which is easy on sales and rentals because, hey--it's Arlington. The only real issue is the foundation--which is severe--some wood rot under the living room caused multiple beam failure, requiring several piers and replacement of a couple beams. Since you have interior piers, you will have to replace the flooring, but carpet is just find in this neighborhood, unless you want to go with vinyl plank. Beyond that, it's a nice house--newer HVAC, nicer appliances, and a large living/dining area due to the garage conversion, which is a plus in this neighborhood since most of the houses are only around 1000 sqft.

Pros:
- Larger than comps
- Healthy rents
- Good shape, apart from foundation

Cons:
- BAD foundation

Price: $87,900
Rehab: $17,000 (for rental)
ARV: $119,000
Rent: $1195/mo