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602 Eastbrook Ln, Huntsville, 35811 4bd 2ba Full brick Auction $50,000.00

Does anyone know this area?

Rentometer says the average rent is 985.00 per month.

Just from seeing the pics I know it needs 2 new bathrooms.

I'm not in the position to make a deal now, but if anyone would like the contact info for a showing just send me a message!

Nathan Roberts · Answer

Hi @Philip Sanders,

The top resources that I use most often for rental comps are Zillow, Rentometer, and Padmapper. Padmapper is mainly for multi-family properties but it can pull single-family properties from Craigslist as well. When I’m trying to estimate potential rents, I compare all three websites. One thing to look at is days on market; if a property has been on the market 20+ days it is likely overpriced but you may be able to renegotiate the purchase price to make it a deal. I'm not familiar with your area because I'm located in Kansas City but definitely reach out to local professionals in your area for help.

Jason Grey · Answer

Hi Phillip,

Try to at least drive the area prior to purchasing to determine if it meet your criteria.

608 Eastbrook Drive is a couple doors down and is currently leased for $1195. It is a 4 bedroom 2.5 bathroom, 3000 sqft and was a full rehab. I think that $1195 would be your very top end on rent and you would adjust rents downward depending on the type of work you do to this property.

Goodluck,

Rebecca P. · Answer

It is correctly priced at starting amount. I wouldn't go any higher.

Peter McDonough · Answer

985 is high for the area.

Michael S. · Answer

35811 is not a zip code we invest in, for what it is worth

agree with @Peter McDonough - $800 is probably best case scenario unless it is a full rehab/updated

Peter McDonough · Answer

800, if you can get it.....

Mike Ball · Answer

@Philip Sanders Hi Philip, would you mind sending me the contact information. I’d love to take a look. I own couple properties in that neighborhood! Thanks.

Philip Sanders · Answer

Hey @Nathan Roberts thanks for the advice, I will check into that!

@ Peter McDonough  what do you think average rent for the area is?

Rebecca P. · Answer

I'd estimate rent 875 to 925 depending on condition, even lower if not updated at all.

Kelli Standekar · Answer

As a new investor I am a little intimidated by auction properties. Does anyone have any experience buying them? Is that something you would recommend looking into to get a better deal or are there just too many risks involved? Any advice is greatly appreciated.

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