Was fishing around and caught a whale of a SFH.
Off market brewerytown deal between 28th and 29th on W Master st.
This thing is a monster at 26000 Sq ft, fully gutted and framed already with 7 ft high ceilings in basement.
Asking price is $180,000.
Needs full rehab.
Comps on zillow go only so far.
New construction go for 400-440K.
What do people the the ARV on something like this would be?
26,000 square feet is a typo right Igor?!
Hey @Igor L. , this looks like a great deal! In terms of ARV and comps, you should never compare rehabs with new constructions as they are vastly different. Some homeowners want houses with the 'old neighborhood' charm and character. Also, definitely stay away from websites zillow and Icomps for comps- those sites can be up to 70% off on their numbers.
Now I don't know the specifics of your deal like beds/baths, lot size, etc, but looking at comps within a .1 of the area, I would guess you'd be in the upper 300k range. I see a 400k comp pending that is 16x56 and 2200 sqft and I also see another 2000 sq footer settled at 365k. If you need a more specific number, shoot me a message with more details and I'd be happy to help
2,600 sq ft... sorry.. typo..
@Alexander Brian Frederick
Purchased it, thanks for confirming my ARV estimate, I put the ARV at 360K-380K. Thanks.
@Igor L. keep us updated on this one. What do you estimate your rehab cost being? Monster size usually means a monster budget in philly.