Phoenix, AZ · Member since 2020 · 42 posts · 7 votes
Came across a 3/1 in Phoenix with pretty bad fire damage, it’s listed at 89k and has been listed for sale for 52 days now. The house right next door which is a 4/2 is selling for 219k and other comps are around that range. So besides all the basic needs that a house requires to be habitable from drywall, cabinets, roof, etc. what other repairs are needed? At what price would this house make sense? And how long would a rehab like this take? Thank you in advance!
Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
6y
Nobody is going to be able to answer that question based on the information you've given. Depending on the damage, it could be a $1000 fix or you may have to tear the house down.
I would suggest bringing in a structural engineer to determine the extend of any structural damage, then bring in a contractor who is experienced with fire damage to give you a quote. County inspectors may also require certain actions be taken, depending on the extent of the damage.
Real Estate Coach · Round Rock, TX · Member since 2015 · 431 posts · 235 votes
6y
I flip fire-damaged properties and own a fire damage restoration company. There really is not such thing as an "average." Depending on the extent of damage it could range from a light cleaning to "bulldoze and rebuild."
The challenge with fire damaged properties is that there is more than meets the eye. For example, often fire damage is water damage--they put the red stuff out with wet stuff. Unmitigated water damage becomes mold damage and and there is the potential of extensive smoke damage in the same airspace.
@J Scott's advice is spot on.I would recommend you find a fire restoration company/contractor to walk the property with you and give you a good understanding as to what needs to be done. There are many things that could be overlooked as part of the renovation on fire-damaged properties.
Let me know if I can help by providing any advice, looking at pictures, etc.